Noah Education Holdings Ltd Receives "Going Private" Proposal at US$2.80 Per Ordinary Share and US$2.80 Per ADS
- Noah Education Holdings Ltd. ("Noah" or the "Company") (NYSE: NED), a leading provider of education services in China, today announced that its board of directors has received a non-binding proposal letter dated December 24, 2013 from certain existing shareholders of the Company, including Mr. Xu Dong, Mr. Tang Benguo, Mr. Wang Xiaotong, Ms. Du Siyuan, Mr. Du Qicai and affiliates of the foregoing, and MSPEA Education Holding Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and an affiliate of Morgan Stanley Private Equity Asia, the private equity arm of Morgan Stanley ("MSPEA" and, collectively, the "Consortium Members") to acquire all of the outstanding shares of the Company not currently owned by the Consortium Members in a "going private" transaction (the "Transaction") at a price of US$2.80 in cash per ordinary share and US$2.80 per American Depositary Share of the Company ("ADS," each ADS representing one ordinary share of the Company), on the principal terms and conditions described in the proposal letter.