Consortium Offers To Buy IKang Healthcare For $44 Per Share

(RTTNews) - Jiangsu Sanyou Group Co Ltd., also known as Meinian Onehealth Healthcare (Group) Co., Ltd., said it is a member of a consortium which has submitted a preliminary non-binding proposal to acquire iKang Healthcare Group, Inc. (KANG).

Under the proposal, the consortium will acquire all outstanding shares and ADSs of iKang in cash for $22 per ADS or $44 per share. It represents a premium of 36.9 percent to the unaffected closing price on August 28, the last trading day before iKang publicly announced receipt of the Insider Proposal.

The consortium includes Meinian Onehealth Healthcare (Group) Co., Ltd, a provider of preventive healthcare services in China, which recently became an A share listed company through the backdoor listing of Shenzhen-listed Jiangsu Sanyou.

The consortium also includes Shenzhen Ping An Decheng Investment Co., Ltd., Taiping Guofa (Suzhou) Capital Management Co., Ltd., Huatai Ruilian Fund Management Co., Ltd., Sequoia China Investment Management LLP and Cathay Capital Private Equity SAS.