Top firms chip in as Chinese investors get intimate down under

Ansell offloads its sexual wellness business to new Chinese owners for US$600m

Top firms chip in as Chinese investors get intimate down under
Four law firms led as ASX-listed Ansell sold its sexual wellness business to new Chinese owners.

King & Wood Mallesons (KWM), Gilbert + Tobin (G+T), Ropes & Gray, and White & Case all acted in the complex cross-border deal valued at US$600m.

As global counsel for Humanwell Healthcare and CITIC Capital China Partners, the buyers of Ansell’s business unit, KWM helped in the incorporation and purchase of companies in China, Singapore, Thailand, India, Australia, UK, US, and Poland.

KWM also said it aided in the transfer of intellectual property, employees, medical registrations, and assets. The firm negotiated and managed sale documentation, debt and equity funding and shareholder arrangements, managed local counsel in over 10 jurisdictions, and dealt with regulatory approval with Chinese authorities and Australia’s Foreign Investments Review Board.

The KWM deal team was led by partners David Friedlander, Lee Horan, and Scott Bouvier, and special counsel Matt Egerton-Warburton.  They were supported by senior associates Clifford Sandler and Melissa Miller, and solicitors Robert Garritano, Stephanie Daaboul, Vishaal Sharma, Lauren Chape, Yixin Gong, and Maggie Chan.

KWM’s China team was led by partner Han Xue and senior associate Yingyuan Xue. Its Singapore team was led by partner Michael Lawson and senior associate Tian Xu.

American BigLaw outfit Ropes & Gray also aided CITIC Capital, which also advised Nomura as financial advisor and EY as accounting and tax advisor. Ropes & Gray’s team was led by M&A partner Jieni Gu in Shanghai.

G+T acted for Ansell, which was also advised by Goldman Sachs and Deloitte. The firm’s team included partners Neil Pathak and Ben Macdonald, and lawyers Alex Kauye and Bridget Sutton.

White & Case acted for China Merchants Bank, which provided debt financing for the deal.

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