Transaction Reports ZAO Isorocv St. Gobain

acquires 25.1% of ZAO Isoroc

Legal advisor to St. Gobain:

St. Gobain acquires 25.1% of ZAO Isoroc

Saint-Gobain is continuing to grow its Insulation Activity in Russia with the acquisition of 25.1% of ZAO ISOROC.

Located in Tambov, ISOROC is leader in the Central region for stone wool products, the most commonly used insulation material in the CIS. The Company reported revenues of €46 million in 2011.

Through this partnership ISOVER is strengthening its position in the insulation market in Russia and extending its product range.

This transaction is in line with the Saint-Gobain Group’s expansion strategy in fast-growing high-potential regions and in energy efficiency markets.

Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2011 sales of €42.12 billion, Saint-Gobain operates in 64 countries and has nearly 195,000 employees.

ISOROC - is a trade mark that belongs to CJSC Isoroc, an enterprise founded in July 2000 as a Russian company with 100% foreign capital. The shareholders of the enterprise are German and Austrian representatives who have great experience of working in construction business, and the European Bank for Reconstruction and

Zhejiang Hisun Pharmaceutical Pfizer Inc in joint

venture agreement with Zhejiang Hisun Pharmaceutical

Legal advisors to Pfizer Inc:

Pfizer Inc in joint venture agreement with Zhejiang Hisun Pharmaceutical

Pfizer Inc. and Zhejiang Hisun Pharmaceutical have signed a framework agreement, advancing their previously announced memorandum of understanding (MOU) to establish a joint venture to develop, manufacture and commercialize off-patent pharmaceutical products in China and global markets. The framework agreement builds upon the MOU, and is an important milestone in the formation of a joint venture between the two companies. This potential partnership would aim to strengthen the ability of both companies to reach more patients with high-quality medicines in the branded generics arena.

The agreement signing took place at the Sino-US Economy & Trade Forum held in Los Angeles during the U.S. visit of Mr. Xi Jinping, the Vice President of China. Mr. Xi Jinping, Mr. John Bryson, U.S. Secretary of Commerce, and other senior officials from the Chinese and U.S. governments attended the event. Mr. Bai Hua, Chairman of Hisun Pharmaceutical, and Dr. Xiaobing Wu, Country Manager of Pfizer China, participated in the signing ceremony.

According to the framework agreement, the potential joint venture will be named “Hisun

Pfizer Pharmaceutical Co., Ltd.” Hisun will own 51% and Pfizer will own 49%, and the aggregate investment and registered capital will be USD 295 million and USD 250 million respectively. Both parties could contribute selected existing products, manufacturing sites, cash and other relevant assets after the joint venture is formed.

The potential joint venture is subject to the satisfaction of certain closing conditions, including approval of relevant government authorities in China.

King & Wood Mallesons (PRC) provided legal advice to Pfizer as PRC legal counsel. The project team provided legal services, including designing deal structure, preparing for antitrust review and conducting due diligence. During the process of antitrust review, MOFCOM and other relevant official agencies paid high attention on the deal because of its highly combined market shares of specific products. The antitrust notification has been successfully approved as scheduled with the strong support of King & Wood Mallesons team.

Kaiding Wang (M&A Department) and Susan Ning (Antitrust Department) of King & Wood Mallesons led the transaction.

Development. Our business is aimed at solving the problem of energy conservation in Russia, saving its energy resources and consequently at better living conditions for people. All our activities are assessed from the point of view of their help in achieving this purpose.

A joint DLA Piper team consisting of Vienna, Moskow and Frankfurt lawyers advised the global cooperation St. Gobain with the acquisition of ZAO Isoroc in Russia.

Under the lead of the DLA Piper office in Moscow, Vienna lawyers Christoph Mager, partner and head of the Corporate group in Vienna, and senior associate Sebastian Kellermayr advised the purchaser Saint-Gobain on all aspects of Austrian law during the transaction. Further members of the advisory team were: Delphine Nougayrede, partner and head of Corporate and M&A in the CIS region, Alexander Klochkov (both DLA Piper Moscow) and German partner Christoph Papenheim from the Frankfurt office.

Christoph Mager comments: "In the course of this transaction, we were able to perfectly apply our global strength for our client. Through our own offices in all jurisdictions relevant for the transaction, in particular with our strong Russian team, we were able to support Saint-Gobain cross-border and seamlessly".