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Ocean announces formation of Consortium with Ctrip regarding eHi taking-private bid

Author: Angelos Restanis / Date: Tue, 04/10/2018 - 11:41
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Ocean Link, a private equity firm dedicated to investing in travel-related industries in China, announced that on April 6, 2018, it has formed a consortium with Ctrip.com International, Ltd. - an existing shareholder of eHi, in connection with its non-binding proposal of a "going-private" transaction with respect to eHi Car Services Limited.

Ocean Link submitted the Proposal to the board of directors of eHi on April 2, 2018, pursuant to which Ocean Link proposed to acquire all of the outstanding common shares of the Company (including Common Shares represented by ADSs) for US$14.50 in cash per ADS or US$7.25 in cash per Common Share in a "going-private" transaction. Subsequently, on April 4, 2018, Ocean Link, through its affiliate, entered into a purchase and voting agreement with CDH Venture Partners II, L.P. for the purchase of CDH Car Rental Service Limited, the direct record holder of 538,764 Class A common shares (including 438,764 Class A common shares represented by 219,382 ADSs) and 8,599,211 Class B common shares of the Company. Ocean Link welcomes other existing shareholders, including management shareholders, to join the consortium.

ABOUT THE AUTHOR

Angelos Restanis

Angelos is the news editor for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). His role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. He currently studies Communication, Media & Culture in Panteion University of Political & Social Studies of Athens.