A buyer group including Center Laboratories, Inc. completed the acquisition of an additional 12.43% stake in Ausnutria Dairy Corporation Ltd. from Brave Leader Ltd., Ausnutria Holding Co Ltd., Lin O, Li-Chu, Lin Wei-Hsuan and other shareholders for approximately HKD 370 million.
August 06, 2015 at 12:00 am EDT
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A buyer group including Center Laboratories, Inc. (GTSM:4123) made a tender offer to acquire an additional 25.75% stake in Ausnutria Dairy Corporation Ltd. (SEHK:1717) from Brave Leader Ltd., Ausnutria Holding Co Ltd., Lin O, Li-Chu, Lin Wei-Hsuan and other shareholders for approximately HKD 760 million on January 21, 2015. Center Laboratories will pay HKD 3.01 as consideration per share. In addition to Center Laboratories, buyer group comprises BioEngine Technology Development, Inc., Asean Bio&Medical Platform Investment, L.P., a fund sponsored by M-Venture Investment, Inc., Babyland Holdings Ltd., Fareast Land Development Co., Ltd., Power Pointer Ltd., Yuanta I Venture Capital Co., Ltd., Yuanta Asia Investment Ltd. and Yuanta Securities (Hong Kong) Company Ltd. The buyer group already owns 48.11% stake and made an offer for 254.1 million shares of Ausnutria Dairy Corporation. Some shareholders holding 257.9 million shares have signed a deed of undertaking not to accept the offer. The buyers intend to finance the purchase from internal resources. The offer commenced on July 2, 2015 and will be open till July 23, 2015. The offer is conditional on valid acceptances of the offer being received by the buyers of up to 50% stake in Ausnutria Dairy. The buyer group intends Ausnutria Dairy Corporation to remain listed on the main board of the Stock Exchange after close of the offer.
An independent Board committee has been formed to advise the shareholders on the deal. As on July 2, 2015, the Board of Ausnutria Dairy Corporation recommended the shareholders to vote in favor of the deal. As on July 23, 2015 the offer became unconditional and acceptances for 72.6 million shares have been received. The expected closing of the offer is extended to August 6, 2015. Optima Capital Ltd. acted as financial advisor to the buyer group and Somerley Ltd. acted as the financial advisor to the independent board committee of Ausnutria Dairy Corporation. Asia Capital (Corporate Finance) Ltd. acted as the financial advisor and Computershare Hong Kong Investor Services Limited acted as registrar to Ausnutria Dairy Corporation. Ronny Chow of Deacons acted as legal advisor to Ausnutria Dairy Corporation.
A buyer group including Center Laboratories, Inc. (GTSM:4123) completed the acquisition of an additional 12.43% stake in Ausnutria Dairy Corporation Ltd. (SEHK:1717) from Brave Leader Ltd., Ausnutria Holding Co Ltd., Lin O, Li-Chu, Lin Wei-Hsuan and other shareholders for approximately HKD 370 million on August 6, 2015.
M-VENTURE INVESTMENT, INC. is a Korea-based venture capital firm. The Company provides investment services, including stock subscription, acquisition of convertible bonds or bonds with warrants, as well as project financing services. It also provides consulting services, including start-up-related business consulting and information services, as well as business advice services to start-up founders; research services for the review of business feasibility; setup and operation of a business incubation center; legal advice, tax information and marketing support services to investee companies, and consulting and advice services regarding corporate mergers or acquisitions, sale of assets and divestitures services. In addition, it provides corporate restructuring services.
A buyer group including Center Laboratories, Inc. completed the acquisition of an additional 12.43% stake in Ausnutria Dairy Corporation Ltd. from Brave Leader Ltd., Ausnutria Holding Co Ltd., Lin O, Li-Chu, Lin Wei-Hsuan and other shareholders for approximately HKD 370 million.
M-VENTURE INVESTMENT, INC. 
