Cordlife Group Limited announced that it has entered into a Share Purchase Agreement with China Cord Blood Corporation ("CCBC"), to acquire 10% of the total issued share capital of CCBC for a total consideration of approximately $20.8 million. At the same time, Cordlife, through its wholly-owned subsidiary Cordlife (Hong Kong) Limited, has entered into a Shares Repurchase Agreement with China Stem Cells (South) Company Limited ("CSCS"), to sell to CSCS its 10% stake in CSCS through a repurchase of shares by CSCS. Upon completion of the transactions, Mr. Jeremy Yee will be appointed as non-executive director on CCBC's board of directors, and will step down as a director of CSCS.