HONG KONG, Aug. 25, 2014 /PRNewswire/ -- China Cord Blood
Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood
collection, laboratory testing, hematopoietic stem cell processing,
and stem cell storage services, today announced that the Company
has been informed that Magnum Opus International Holdings Limited
("Magnum"), a private vehicle that is controlled by CCBC Chairman
Mr. Yuen KAM and involves the CCBC management team, together with
Cordlife Group Limited ("Cordlife"), a Singapore listed company and substantial
shareholder of the Company, have agreed to purchase the Company's
outstanding 7% senior convertible note due 2017 (the "Note") held
by Golden Meditech Holdings Limited ("Golden Meditech"), CCBC's
parent company, for a total consideration of approximately
$88.1 million.
The Note was originally issued by the Company to Golden Meditech
in 2012 with an aggregate principal amount of $50 million. Magnum and Cordlife are each
obligated to purchase 50% of the Note, subject to customary closing
conditions and satisfaction of all relevant approvals and consents,
including but not limited to the approval of Golden Meditech's
independent shareholders.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses.
Under current PRC government regulations, only one licensed
cord blood banking operator is permitted to operate in each
licensed region and only seven licenses have been authorized as of
today. China Cord Blood Corporation provides cord blood
collection, laboratory testing, hematopoietic stem cell processing,
and stem cell storage services. For more information, please
visit our website at
http://www.chinacordbloodcorp.com.
About Magnum Opus International Holdings Limited
Magnum Opus International Holdings Limited is incorporated in
the British Virgin Islands. It is
controlled by Mr. Yuen KAM, CCBC's chairman of the Board, and
involves the CCBC management team. Mr. Yuen KAM is also the
Chairman and Chief Executive Officer of Golden Meditech.
About Cordlife Group Limited (Bloomberg stock code: CLGL
SP)
Incorporated in May 2001, Cordlife
Group Limited is a multi-product healthcare company catering to the
mother and child segment and a leading cord blood and umbilical
cord lining banking services provider. Today, Cordlife operates the
largest[1] private cord blood banks in each of Singapore, the
Philippines and Indonesia,
and is amongst the top three market leaders in Hong Kong and India. Cordlife also holds approximately
10.02% and 31.81% stakes in China
Cord Blood Corporation and StemLife Berhad respectively, both of
which are their countries' largest cord blood bank operators. For
more information, please visit www.cordlife.com.
Safe Harbor Statement
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events, performance and
results of operations, and underlying assumptions and other
statements that are other than statements of historical facts.
These statements are subject to uncertainties and risks including,
but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of
competition and pricing, government regulation, and other risks
contained in statements filed from time to time with the U.S.
Securities and Exchange Commission. All such forward-looking
statements, whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by the cautionary
statements and any other cautionary statements which may accompany
the forward-looking statements. In addition, the Company disclaims
any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
Mr. Bill Zima
Tel: (+86) 10-6583-7511 (China) or
(+1) 646-405-5185 (U.S.)
Email: william.zima@icrinc.com
|
[1] Source :
Deloitte & Touche Financial Advisory Services Limited report,
10 April 2013
|
SOURCE China Cord Blood Corporation