GL China Opportunities Fund IV (Canada) L.P. and GL China Opportunities Fund IV L.P., managed by GL Capital Group and GL Capital Management GP L.P. agreed to acquire 66.69% stake in SciClone Pharmaceuticals (Holdings) Limited (SEHK:6600) for HKD 7.9 billion on March 19, 2024. As per the transaction, GL China Opportunities Fund IV (Canada) L.P. and GL China Opportunities Fund IV L.P., managed by GL Capital Group and GL Capital Management GP L.P. will cancel all the scheme shares in exchange for HKD 18.8 in cash for each scheme share. Following the scheme the Rollover Shares of 209 million will be transferred to GL China Opportunities Fund IV (Canada) L.P. and GL China Opportunities Fund IV L.P., managed by GL Capital Group and GL Capital Management GP L.P. in consideration for an aggregate of 209 million shares to be issued.

The transaction is intended to be financed a binding equity commitment letter from the GL Canadian Fund and the GL Cayman Fund and external debt financing. The transaction is subject to approval by court, regulatory authorities and shareholders of SciClone Pharmaceuticals (Holdings) Limited. Opus Capital Limited acted as financial advisor to SciClone Pharmaceuticals (Holdings) Limited and China International Capital Corporation Hong Kong Securities Limited acted as financial advisor to GL China Opportunities Fund IV (Canada) L.P. and GL China Opportunities Fund IV L.P., managed by GL Capital Group and GL Capital Management GP L.P. Joey Chau, Jacqueline Zheng, Jennifer Feng, Shinong Wang and Sean Zhang of Kirkland & Ellis acted as legal advisor to GL Capital Group.

Benita Yu, Jing Chen and Edward Lau of Slaughter and May advised China International Capital Corporation Hong Kong Securities Limited.