Huajie Medical Investment Partnership (Limited Partnership) and CICC Jiatai Equity Investment Fund Partnership II (Limited Partnership) cancelled the acquisition of 9.81% stake in Shanghai MicroPort Endovascular Medtech Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited.
November 25, 2017 at 11:00 pm EST
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Huajie (Tianjin) Medical Investment Partnership (Limited Partnership) and CICC Jiatai Equity Investment Fund Partnership II (Tianjin) (Limited Partnership) entered into the equity transfer agreement to acquire 9.81% stake in MicroPort Endovascular (Shanghai) Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited for approximately CNY 180 million on March 10, 2017. As on May 26, 2017, Shanghai Fufu Enterprise Management Consulting Center (Limited Partnership) and CICC Jiatai Equity Investment Fund Partnership II (Tianjin) (Limited Partnership) entered into the equity transfer agreement to acquire 9.81% stake in MicroPort Endovascular (Shanghai) Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited for approximately CNY 180 million. Post-closing of the transaction, Huajie (Tianjin) Medical Investment Partnership (Limited Partnership) will hold 7.02% stake and CICC Jiatai Equity Investment Fund Partnership II (Tianjin) (Limited Partnership) will hold 2.78% stake in MicroPort Endovascular (Shanghai) Co., Ltd. If the completion have not taken place within 60 days from the date of the agreement then agreement shall be terminated. The net proceeds raised from the transaction under equity transfer agreement expect to be approximately CNY 117 million, which will be used to optimize the financial structure of MicroPort Scientific Corporation (SEHK : 853).
The transaction is subject to the due diligence on MicroPort Endovascular (Shanghai) Co., Ltd. with respect to financial, legal, business and labour areas having been completed; Along with it the existing shareholders of MicroPort Endovascular (Shanghai) Co., Ltd. having issued consent letters or relevant resolutions to waive their pre-emptive rights regarding the equity transfer. For the year ended December 31, 2016, MicroPort Endovascular (Shanghai) Co., Ltd. reported net assets of CNY 124.1 million and net income of CNY 41.8 million.
Huajie (Tianjin) Medical Investment Partnership (Limited Partnership) and CICC Jiatai Equity Investment Fund Partnership II (Tianjin) (Limited Partnership) cancelled the acquisition of 9.81% stake in MicroPort Endovascular (Shanghai) Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited on November 26, 2017.
Shanghai MicroPort Endovascular MedTech Group Co Ltd, formerly Shanghai MicroPort Endovascular MedTech Co Ltd, is a China-based company principally engaged in the research and development, production and sales of aortic and peripheral vascular interventional medical devices. The Company's main products include the aortic stent graft system for aortic minimally invasive interventional procedures, the intraoperative stent system for open surgery, as well as the peripheral vascular stent system and peripheral balloon dilatation catheters for the treatment of peripheral vascular diseases. The Company mainly distributes its products to the domestic market.
Huajie Medical Investment Partnership (Limited Partnership) and CICC Jiatai Equity Investment Fund Partnership II (Limited Partnership) cancelled the acquisition of 9.81% stake in Shanghai MicroPort Endovascular Medtech Co., Ltd. from MicroPort Endovascular CHINA Corp. Limited.
SHANGHAI MICROPORT ENDOVASCULAR MEDTECH CO., LTD. 
