Hony Capital Backs Simcere’s Privatization Bid

Hony Capital, the China-based private equity firm that is backed by the conglomerate Legend Capital, will support Simcere’s $506 million privatization offer. Simcere’s Chairman, Ren Jinsheng, announced a bid for the Nanjing pharma on March 13. Hony, which made its first Simcere investment in 2005, currently owns 17% of the company. The company has not disclosed the size of its financial commitment. More details.... Stock Symbol: (NYSE: SCR) Share this with colleagues: // //