Golden Meditech Holdings Limited (SEHK:801) made an offer to acquire the remaining 57.97% stake in China Cord Blood Corporation (NYSE:CO) for approximately $320 million on April 27, 2015. China Cord Blood is expected to go private after the transaction. Golden Meditech will acquire the remaining shares for $6.4 per share. Golden Meditech also intends to acquire all of the 7% senior convertible notes of the company. The transaction is intended to be financed with a combination of available cash resources and debt and equity capital. The Board of directors of China Cord Blood Corporation will form a special committee of independent directors to consider the transaction. The transaction has been approved by the Board of Directors of Golden Meditech and requires the approval of Golden Meditech's shareholders. As of April 29, 2015, an application has been made to the stock exchange for the resumption of trading in the shares with effect from April 30, 2015. As on May 8, 2015, Golden Meditech Holdings Limited agreed to acquire outstanding 7% senior convertible note due 2017 with an aggregate principal amount of $25 million (the "CGL Note") held by Cordlife Group Limited ("Cordlife") and the ordinary shares of the Company owned by Cordlife.

As of April 29, 2015, China Cord Blood Corporation formed a special committee of independent directors who are not affiliated with Golden Meditech to evaluate the proposal from Golden Meditech Holdings. The special committee consists of Mark D. Chen, Ken Lu and Jennifer J. Weng. Mark D. Chen is serving as the chair of the committee. On July 3, 2015, Golden Meditech conditionally agreed to place 140 million shares. Assuming the maximum of 140 million placing shares are successfully placed, the gross proceeds and the net proceeds (after deduction of the relevant expenses in relation to the placing) from the placing will be approximately HKD 174 million ($22.4 million) and HKD 171 million ($22.06 million), respectively. Golden Meditech intends to apply all the said net proceeds for China Cord Blood acquisition. As on July 7, 2015 binding agreement is already signed between the parties. On August 26, 2015 it was announced that proceeds from the disposal may be used for the China Cord Blood Corporation's future business expansions and it is not expected to impact the operations of the Company. On September 9, 2015, Jayhawk Capital sent an open letter to the board of directors of China Cord Blood stating that Jayhawk reiterate their disapproval towards the offer by Golden Meditech and must reject the offer. As of September 14, 2015, Cordlife Group Limited shareholder approved the transaction; transaction is expected to be completed by November 16, 2015. The extra ordinary general meeting will be held on October 15, 2015, to discuss and approve the transaction. On October 24, 2015, Nanjing Xinjiekou Department Store Co., Ltd signed a letter of intent with Golden Meditech to be a party in the transaction.

As on October 22, 2015, Golden Meditech Holdings Limited has entered into a non-legally binding memorandum of understanding with Nanjing Xinjiekou. Under the memorandum of understanding Golden Meditech Holdings Limited and Nanjing Xinjiekou should enter into negotiation regarding possible financing in relation to the China Cord Blood Corporation shares acquisition and to discuss, evaluate and negotiate the possible ways through which Nanjing Xinjiekou may participate in the China Cord Blood Corporation shares acquisition and the relevant terms as soon as possible. As on October 26, 2015, Golden Meditech's holdings in China Cord Blood increased to 30.68 million shares. On October 30, 2015, Cordlife completed the sale of 7.31 million shares in China Cord Blood.

As on November 5, 2015, Nanjing Xinjiekou Department Store Co., Ltd. has entered into a new memorandum of understanding with Golden Meditech Holdings Limited. As a part of new memorandum of understanding, Nanjing Xinjiekou Department Store will acquire from Golden Meditech Holdings Limited the Minimum Target China Cord Blood Corporation shares and provide assistance, including possible financing, to the Golden Meditech Holdings Limited for the China Cord Blood Corporation shares acquisition. Nanjing Xinjiekou will pay cash for the exchange of shares. As of January 4, 2016, Golden Meditech shareholders approved the deal. As of January 7, 2016, Golden Meditech owns 38.4 million shares of China Cord Blood. As of May 26, 2016, Golden Meditech Holdings's intention to complete the Going-private before 31 December 2016 and subsequently dispose all its shares of the surviving company to Nanjing Xinjiekou Department Store Co., Ltd. (SHSE:600682).

Houlihan Lokey (China) Limited acted as financial advisor for China Cord Blood Corporation, Cleary Gottlieb Steen & Hamilton LLP and Maples & Calder acted as legal counsel for China Cord Blood Corporation. Paul Strecker and Shuang Zhao of Shearman & Sterling LLP acted as legal advisors to Golden Meditech Holdings Limited. Shirin Tang and Mike O'Bryan of Morrison & Foerster LLP acted as legal advisors to Cordlife Group Limited. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor for an affiliate of KKR & Co. L.P. Amasse Capital, LLC acted as financial advisor for Golden Meditech Holdings Limited. SPDB International Holdings Limited has been appointed as the independent financial advisor to advise the Independent Board Committee and the Independent Shareholders. KPMG Huazhen acted as accountant for Golden Meditech Holdings Limited. William Zima of ICR, Inc. acted as public relations advisor for China Cord Blood Corporation. Computershare Hong Kong Investor Services Limited acted as registrar for Golden Meditech Holdings Limited. SPDB International Holdings Limited acted as financial advisor for Independent Board Committee and Independent Shareholders of Golden Meditech Holdings.

Golden Meditech Holdings Limited (SEHK:801) cancelled the acquisition of the remaining 57.97% stake in China Cord Blood Corporation (NYSE:CO) on April 13, 2017.