Alibaba-led group plans buyout of iKang Healthcare

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.