Tarena International: Jumps on going private deal
30/04/2021 17:50
** U.S.-listed shares of Chinese education services provider
TEDU.O up as much as 10.68% at $3.73
** Co to merge with private co Kidedu Holdings Ltd in a deal
implying an equity value of Tarena at ~$230.6 mln urn:newsml:reuters.com:*:nPn6rLsjza
** Tarena will be a wholly owned unit of Kidedu
** Upon the close of deal, each ADS representing one Class A
ordinary share will be cancelled in exchange for the right to
receive $4 in cash per ADS without interest
** The Merger is expected to close during the Q3
** Duff & Phelps, LLC is serving as the financial advisor
** Up to last close, stock up ~22% YTD
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com;))