CITIC Capital Completes AsiaInfo-Linkage Privatization Deal


NASDAQ-listed Chinese telecommunication software firm AsiaInfo-Linkage, Inc. says that it has completed a take-private deal led by CITIC Capital Partners.

On May 12, 2013, AsiaInfo-Linkage signed a definitive merger agreement with an investor consortium led by CITIC Capital Partners and Edward Tian, co-founder and a significant shareholder of AsiaInfo-Linkage to take the Beijing-based company private in a US$890 million deal.

The consortium also included their respective affiliates, CITIC PE and China Broadband Capital Partners, a Chinese private equity fund focused on the telecommunications, media and telecom sectors founded by Edward Tian.

The terms of the deal remain the same when CITIC and Tian initially made the privatization proposal on January 11, 2012, at US$12 in cash per share, a 52% premium over the closing price of the last trading day before the announcement.

The company has requested that NASDAQ suspend the trading of its shares.

 
China Expert network

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