Hailiang Education up as founder to take Chinese service provider private

Shuoao International Holdings

09/05/2022 15:34

** U.S-listed shares of Chinese educational service provider
Hailiang Education Group  HLG.O  rise 5.3% after signing
go-private deal 
    ** Founder Hailiang Feng to take co private through
wholly-owned unit of parent company Hailiang International Ltd
for $14.31 in cash per American Depository Share  urn:newsml:reuters.com:*:nPn7wx83Qa 
    ** Deal value represents 8% premium to stock's closing price
on Friday
    ** The offer comes after unanimous recommendation from
special committee formed after co got preliminary non-binding
proposal on Dec 23 from Hailiang Feng  urn:newsml:reuters.com:*:nPnbn069Va 
    ** Up to Monday's close, HLG had risen 5.2% 

 (Reporting by Raghavi Kasa in Bengaluru)
 ((Raghavi.Kasa@thomsonreuters.com;))