MoFo advised Ascendent Capital Partners on its disposal of Etern Group Ltd., which indirectly holds 98% of the equity interest in a general hospital in Suzhou, to Hygeia, a Hong Kong listed healthcare company, for a total consideration of RMB1,734,600,000 (approximately US$267 million). MoFo also advised Ascendent on its original acquisition of Etern Group Ltd.
Hygeia is a Hong Kong Main Board listed issuer, and its acquisition of Etern Group Ltd. is a major transaction that requires public disclosure and shareholders’ approval for closing.
MoFo previously advised Ascendent Capital Partners on its US$150 million investment in Best Assistant Education Online Limited.
The MoFo team was led by Marcia Ellis, Hong Kong partner and global chair of the firm’s Private Equity Group, and Shanghai M&A/PE partner Ruomu Li. Key members of the M&A team included Hong Kong partner Vivian Yiu, Hong Kong partner Matthew Lau, Hong Kong of counsel Maureen Ho, Beijing associate Richard Ji, Shanghai senior consultant Huijun Zhang, and Hong Kong trainee solicitor Vivien Chiu.