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home / news releases / HLG - Hailiang Education agrees to $14.31/ADS buyout from company founder

HLG - Hailiang Education agrees to $14.31/ADS buyout from company founder

Hailiang Education Group Inc.
Hailiang Education Group (NASDAQ:HLG) agreed to a sale to company founder Hailiang Feng for almost $370 million. HLG rose 6.9%. Feng agreed to pay $14.31/ADS for the Chinese tutoring company, according to a statement. The price represents a 25% premium to Hailiang's (HLG)'s close price on Dec. 22, before Feng announced a going private proposal and a 8% premium to Friday's closing price. The deal is currently expected to close in Q3. Kroll LLC operating through its Duff & Phelps Opinions Practice, is serving as the financial advisor to the Special Committee. Orrick, Herrington & Sutcliffe LLP is serving as U.S. legal counsel to the Special Committee. Hunter Taubman Fischer & Li LLC is serving as U.S. legal counsel to the Company. Recall February, RISE Education Cayman signed merger agreement with Data Auto.

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Hailiang Education agrees to $14.31/ADS buyout from company founder
Stock Information
Company Name: Hailiang Education Group Inc.
Stock Symbol: HLG
Market: NASDAQ
Website: hailiangeducation.com
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