Mecox Lane Agrees To Be Taken Private For $4.00/ADS - Quick Facts

(RTTNews) - Mecox Lane Limited (MCOX), a multi-brand and multi-channel retailer in China specializing in health, beauty and lifestyle products, announced that it has entered into an Agreement and Plan of Merger with MINAT ASSOCIATED CO., LTD., a business company incorporated under the laws of the British Virgin Islands or "Parent" and ChinaEquity Alliance Victory Co., Ltd., an exempted company incorporated with limited liability under the laws of the Cayman Islands and a wholly owned subsidiary of Parent or "Merger Sub".

As per the Merger Agreement, Parent will acquire the Company for cash consideration equal to US$0.114 per ordinary share of the Company or US$4.00 per American Depositary Share of the Company, each ADS representing thirty-five shares.

The price represents a premium of 17.6% over the Company's closing price of US$3.40 per ADS as quoted by NASDAQ Global Select Market on July 20, 2015, the last trading day prior to the Company's announcement of its receipt of a "going-private" proposal.

Immediately following the consummation of the Merger, Parent will be beneficially owned by a consortium comprised of CNshangquan Limited, ChinaEquity USD Fortune Co., Ltd. and Chinaequity Capital Investments Co., Limited, an affiliate of ChinaEquity.

The Merger, which is currently expected to close during the second quarter of 2016, is subject to customary closing conditions, including the approval of the Merger Agreement by an affirmative vote of holders of Shares representing at least two-thirds of the Shares present and voting in person or by proxy as a single class at an extraordinary general shareholders' meeting of the Company which will be convened to consider the approval of the Merger Agreement and the Merger, as well as certain other customary closing conditions.

If completed, the Merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on the NASDAQ Global Select Market.