Firm: Norton Rose Fulbright (Nature’s Care), Deutsche Bank, Clifford Chance and PricewaterhouseCoopers (buyer’s consortium, comprising China Jianyin Investment [JIC] and Tamar Alliance Partners Fund [Tamar]).

Deal: The Wu family, founders of Nature’s Care, entered into a binding agreement with a consortium comprising JIC and Tamar to sell a majority share of the vitamins, supplements and skin care products of the wholesale and manufacturing business.

The deal is expected to close later in 2018, subject to regulatory approvals in China, Europe and the Foreign Investment Review Board in Australia.

Value: Undisclosed

Area: Private equity

Key players: The cross-border team was led by NRF partner and head of private equity Richard G. Lewis, who was supported by special counsel Matthew Nelson, associate William Nicolson, and lawyers Andrew Robertson and Hugo Gotterson.

The team also received specialist support from lawyers in the NRF Sydney, London and Shanghai offices.

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Deal significance: While the Wu family is selling its majority share in the business, it will continue to hold an undisclosed interest in the business it built.

Speaking about the deal, Mr Lewis said the firm had been tracking rising interest from Chinese businesses in Australian life sciences and healthcare industries, which are part of NRF’s major areas of focus.

“The sale of Nature’s Care is illustrative of the appetite for Chinese investment in high-quality Australian healthcare businesses,” Mr Lewis said.

“We’re pleased to have been able to bring together a high-quality cross-border team to assist the Wu family in this significant transaction.”