Baring PE Asia tables buyout offer for China’s Ambow Education
Baring Private Equity Asia (BPEA) has offered to buy New York-listed Ambow Education Holding in a deal that values the Chinese tutoring and training services provider at about $108 million. It is the 14th PE-backed take-private transaction involving a US-listed Chinese company since 2010, but unlike most of the others, it is not structured as a management buyout led by the existing chairman or CEO.
BPEA has offered to pay $1.46 for each American Depository Share, which represents a 44.5% premium over the March 14 closing price. It will finance the purchase through equity alone, principally drawn...
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