(Yicai Global) March 13 -- iKang Healthcare Group Inc., a major provider in China’s fast-growing private preventive healthcare services market, has received privatization bids from Yunfeng Capital and Alibaba Investment Ltd., it announced today in the latest progress in the company’s privatization, as online news portal Sina.com reported.
Yunfeng Capital -- which is backed by Alibaba Group Holding Ltd. Chairman Jack Ma -- and Alibaba Investment plan to acquire all the company's outstanding Class A, Class C common shares and American depository shares (ADSs) for USD40 per ordinary share or USD20 per ADS, the healthcare services provider said, in the most recent privatization proposal it has in hand.
iKang Healthcare’s special committee of independent directors was also informed that Yunfeng Capital and Alibaba Investment are discussing the privatization with significant company shareholders, hoping to enlist their support. The committee will seriously consider and evaluate the privatization proposal with the help of independent financial and legal advisors, it said.
Keywords: US, Ikang, Alibaba, M&A