TPG and CNinsure CEO makes MBO bid
TPG CAPITAL WILL PARTNER WITH THE CEO of CNinsure in an effort to takeover the NASDAQ-listed Chinese insurance intermediary, which is party owned by local fund CDH Holdings. The private equity firm and Yinan Hu has offered a bid that represent a 44% premium over the Company’s closing price on May 13. Should the deal proceed, the total value will be around $626 million.
The investor consortium, which has already collected 34.3% of CNinsure's outstanding ordinary shares, has offered cash as payment for acquisition. According to the company's press statement, the TPG-led...
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