PE-Backed Buyout Offer for Sihuan Pharma

SINGAPORE (Reuters) – Sihuan Pharmaceutical (SIHP.SI) has received a takeover offer from investment firm China Pharma at S$0.975 a share, a deal valuing the company at S$458 million ($318 million), Sihuan said in a statement on Monday.

The deal values Singapore-listed Sihuan, which develops cardiocerebral vascular drugs, at a premium versus its current market cap of about S$360 million.

China Pharma is an investment holding company backed by Morgan Stanley Private Equity Asia and controlling shareholders of Sihuan, including its CEO Che Fengsheng. (Reporting by Neil Chatterjee; Editing by Jon Loades-Carter)