<article>Singapore-listed <a style="color: #000080;" href="https://www.cordlife.com/sg/" target="_blank">Cordlife Group</a> Tuesday said that Hong Kong’s Robust Plan has withdrawn its offer to buyout its (Cordlife’s) China assets.</article>

Singapore-listed <a style="color: #000080;" href="https://www.cordlife.com/sg/" target="_blank">Cordlife Group</a> Tuesday said that Hong Kong’s Robust Plan has withdrawn its offer to buyout its (Cordlife’s) China assets.
Robust Plan has earlier offered to buyout Cordlife&#8217;s China assets with immediate effect. These assets include include 7.3 million ordinary shares held in China Cord Blood Corp (CCBC) and also the 7 per cent senior unsecured convertible notes of China Cord Blood Corp (CCBC).
Cordlife informed the Singapore Exchange that Robust Plan had withdrawn its earlier offer, citing another competing buyout offer made by Nanjing Xinjiekou Department Store Co (NXDS) for all of CCBC&#8217;s China assets. NXDS had made this offer on August 6.
As CCBC’s board did not reject NXDS&#8217; offer, and had instead announced that it would review and evaluate it, Robust Plan said that this had led to a situation &#8220;where CCBC itself may no longer retain its core China business&#8221;.
“If CCBC were to divest this business, the assets which are the subject of the revised offer, will no longer be commercially relevant to the offeror,” Robust Plan’s letter added.
Interestingly, Robust Plan has withdrawn the offer even as Cordlife Group had called an extraordinary general meeting on September 14 to consider the sale of its China assets.
Cordlife chief executive Jeremy Yee has also informed the Singapore exchange that the company’s board was considering an appropriate response to the withdrawal letter

Singapore-listed Cordlife Group Tuesday said that Hong Kong’s Robust Plan has withdrawn its offer to buyout its (Cordlife’s) China assets.

Robust Plan withdraws offer for Cordlife's China assets

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Robust Plan withdraws offer for Cordlife's China assets

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