Blue Sail Medical Co.,Ltd. (SZSE:002382) agreed to acquire 62.6% in CB Cardio Holdings II Limited from a group of shareholders for CNY 3.8 billion on December 18, 2017. On December 22, 2017, an agreement is signed. As per consideration terms, 176.6 million new shares of Blue Sail Medical Co.,Ltd. will be issued at CNY 10.95 per share to Zibo Blue Sail Investment Limited, which will sell 40% stake. Rest of the sellers will be issued cash of $287.5 million (CNY 1.9 billion). As on March 22, 2018, the deal terms revised. As per the new consideration details, 179.9 million new shares will be issued at revised offer price and cash of CNY 1.9 billion will be issued. In related deal, Blue Sail Medical Co.,Ltd. also agreed to acquire CB Cardio Holdings V Limited. Through the acquisition of CB Cardio Holdings V Limited, Blue Sail Medical Co.,Ltd. will also indirectly own 30.76% stake in CB Cardio Holdings II Limited. The cash consideration will be funded from a private placement transaction of not more than CNY 1.9 billion. For the year ended December 31, 2016, CB Cardio Holdings II Limited reported total assets of CNY 7.02 billion, revenues of CNY 1.6 billion, net income of CNY 75.6 million and net assets of CNY 2.5 billion. The deal is subject to approval from shareholders of Blue Sail Medical Co.,Ltd. and CSRC. On December 18, 2017, the share transfer committee of CB Cardio Holdings II Limited made a resolution and approved the transfer to Blue Sail Medical Co.,Ltd. On December 22, 2017, the Board of Directors of Blue Sail Medical Co.,Ltd. approved the deal. As of December 22, 2017, the sellers have completed their respective internal decision-making procedures. On January 8, 2018, the deal was approved by shareholders of Blue Sail Medical Co.,Ltd. On January 23, 2018, the Ministry of Commerce issued the notice of “Anti-Monopoly Bureau’s decision of not implementing further examination as per which it decided not to implement further examination to this transaction. On March 15, 2018, the Department of Commerce of Shandong Province issued the certificate of enterprise’s overseas investment, approving this transaction. On March 28, 2018, the transaction was approved by the China Securities Regulatory Commission. On May 10, 2018, the audit committee of the China Securities Regulatory Commission approved the deal. Geng Lisheng, Zhong Shuqiao, Jin Mengmeng, Wang Tianshu, Chen Yudong and Tian Yuji of Morgan Stanley Huaxin Securities Company Limited acted as financial advisors and Xue Li and Wang Heng of Fangda Partners acted as legal advisors for Blue Sail Medical Co.,Ltd. Ma Tianyu, Ren Liguang, Liang Jieyan and Wang Xin of King & Wood Mallesons acted as legal advisors for Morgan Stanley Huaxin Securities Co., Ltd. Xie Yanfeng, Shen Han and Wang Jue of Deloitte Touche Tohmatsu Certified Public Accountants LLP acted as accountants for CB Cardio Holdings II Limited. Blue Sail Medical Co.,Ltd. (SZSE:002382) completed the acquisition of 62.6% in CB Cardio Holdings II Limited from a group of shareholders on May 14, 2018.