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Alibaba-led group plans buyout of iKang Healthcare

By He Wei in Shanghai and Liu Yukun in Beijing | China Daily | Updated: 2018-03-14 07:48

An investment consortium backed by Alibaba Group Holding Ltd founder Jack Ma has officially resumed its privatization bid for China's iKang Healthcare Group Inc, after two years of stalemate following a takeover war.

Alibaba's investment arm and Yunfeng Capital, a private equity firm co-founded by Ma and Target Media head David Yu, had proposed to delist iKang from Nasdaq in an all-cash transaction, the physical checkup specialist said in a statement on Monday.

The duo are offering $20 per American depositary share to acquire all of iKang's outstanding shares, a price tag that stood at the lower limit of an initial proposal back in 2016.

Alibaba-led group plans buyout of iKang Healthcare

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