BDA transaction wins Asia Pacific M&A Deal of the Year award 2010
September 27, 2010
Business Development Asia LLC (“BDA”) has won the “Asia Pacific M&A Deal of the Year” award in its category at the Asia Pacific M&A Atlas AwardsTM® Gala. The awards are organized by Global M&A Network in Mumbai. Global M&A Network produces world-class conferences and the Gold Standard of Performance, the M&A Atlas AwardsTM® for mergers, acquisitions, turnarounds and alternative investor communities.
BDA acted as the exclusive sell-side advisor to Pfizer Inc (“Pfizer”, NYSE: PFE), the global pharmaceutical company, on the May 2010 divestment of its market leading animal vaccine business in China. The buyer was Harbin Bio-Vaccine, an animal health subsidiary of Harbin Pharmaceutical Group (“Hayao”), a leading domestic pharmaceutical company in China. Hayao is owned partly by CITIC and Warburg Pincus.
The award-winning divestment was required by the Anti-Trust Bureau of China’s Ministry of Commerce (“MOFCOM”) as a condition for its approval of the US$68bn Pfizer/Wyeth merger, closed in October 2009. This was the first time that a business in China has been sold as a consequence of Chinese competition authorities’ review of a global merger following the new Anti-Monopoly Law of August 2008. The transaction had to be executed within a pre-determined statutory limit of six months, failing which an independent trustee appointed by the ministry would have effected the sale.
On receiving the award, Euan Rellie, co-founder and Senior Managing Director of BDA said “We are pleased to be recognized for our work on this innovative and successful transaction. BDA routinely delivers excellent investment banking advice to the most exacting multinational clients”.
About Business Development Asia
Business Development Asia LLC (“BDA”) assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 50 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s clients include Air Products, Areva, Cadbury Schweppes, Celestica, Clariant, DIC, DuPont, Ecolab, Godrej, Hanjin, Henkel, Hercules, Huntsman, Kennametal, Kimberly-Clark, Lear, Lubrizol, Mars, Molex, Nalco, Rexel, Reuters, Rohm & Haas, Ryder, Siemens, SigmaKalon, Sumitomo Chemical, Sun Chemical, Tata, AutoComp, Tenneco, Tredegar, Visteon , Weir WestLB, WR Grace, and the British Government. Further information on BDA is available at www.bdapartners.com
BDA Deal Team:
Euan Rellie, Senior Managing Director, New York
Jeffrey Wang, Managing Director, and Head of Shanghai Office
Mark Webster, Managing Director, Shanghai
Sherry Zhou, Senior Associate, Shanghai
Alex Ditchfield, Associate, Shanghai
Alicia Cao, Analyst, Shanghai
Max Kubicki, Analyst, Shanghai
For more information regarding this transaction, please contact Jeffrey Wang or Mark Webster in Shanghai on +86 (21) 5407-5580, or Euan Rellie in New York on +1 (212) 265-5300.