HONG KONG, April 27, 2015 /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 its
board of directors has received a non-binding proposal letter from
Golden Meditech Holdings Limited ("Golden Meditech"), pursuant to
which Golden Meditech proposes to acquire all of the outstanding
ordinary shares of the Company not already directly or indirectly
owned by Golden Meditech for US$6.40
per ordinary share in cash.
According to the proposal letter, which is dated April 27, 2015, the proposed transaction is
intended to be financed with a combination of available cash
resources of Golden Meditech and debt and equity capital. In
connection with the proposed transaction, Golden Meditech also
intends to acquire all of the 7% senior convertible notes of the
Company pursuant to the terms and conditions of such convertible
notes. A copy of the proposal letter is attached to this press
release.
The Company expects that its board of directors will form a
special committee of independent directors (the "Special
Committee") to consider the proposed transaction. The Company also
expects that the Special Committee will retain advisors, including
an independent financial advisor and legal counsel, to assist it in
its work. The Company cautions its shareholders and others
considering trading its ordinary shares that no decisions have been
made with respect to the Company's response to the proposed
transaction. There can be no assurance that any definitive offer
will be made, that any agreement will be executed or that this or
any other transaction will be approved or consummated.
The full letter from Golden Meditech
can be downloaded
here:
http://photos.prnasia.com/prnk/20150427/0861503368
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.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
statements relate to future events or the Company's future
financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"intends", "may", "plans", "potential", "predict", "should" or
"will" or the negative of these terms or other comparable
terminology. These statements are only predictions, uncertainties
and other factors may cause the Company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. The information in this press release is not intended
to project future performance of the Company. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company does not guarantee future
results, levels of activity, performance or achievements. The
Company expectations are as of the date this press release is
issued, and the Company does not intend to update any of the
forward-looking statements after the date this press release is
issued to conform these statements to actual results, unless
required by law.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com
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SOURCE China Cord Blood Corporation