Simcere Pharmaceutical Group (SCR)

[surf1944]

Simcere Pharmaceutical Group Announces its Special Committee's Engagement of Financial Advisor
Press Release: Simcere Pharmaceutical Group – Wed, Apr 3, 2013 6:00 AM EDT

NANJING, China, April 3, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced that its Special Committee of the Board of Directors (the "Special Committee"), which was formed to consider a proposal by Mr. Jinsheng Ren, New Good Management Limited, Assure Ahead Investments Limited and its affiliates (the "Buyer Group"), pursuant to which the Buyer Group proposes to acquire all of the outstanding ordinary shares of the Company not currently owned by the Buyer Group, and any potential alternative transactions involving the Company, has retained UBS AG and/or its affiliates as its exclusive financial advisor to assist it in its work. No decisions have been made by the Special Committee with respect to the Company's response to the proposed transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.