Clifford Chance has advised the Hong Kong-listed SciClone Pharmaceuticals on an offer to take it private by healthcare-focused private equity firm GL Capital, with Slaughter and May acting for the buyer’s financial adviser, Capital Corporation Hong Kong Securities (CICC).

The transaction was implemented via a scheme of arrangement, which allows for a cash consideration of up to an approximate total of $1.13 billion.

Founded in 2010, GL Capital is an investment firm focusing on buyouts and growth opportunities in China’s healthcare industry.

SciClone is engaged in developing and commercialising a portfolio of marketed products as well as pipeline with potential in its focused therapeutic areas, including oncology and severe infection. The company was listed in Hong Kong in March 2021.

The Clifford Chance team was led by partners Christine Xu and Tommy Tam.

 Meanwhile, the Slaughter team was headed by partner Bonita Yu.