SHANGHAI, April 9, 2018 /PRNewswire/ -- Ocean Link, a private equity firm dedicated to investing in travel-related industries in China, announced that on April 6, 2018, it has formed a consortium with Ctrip.com International, Ltd. - an existing shareholder of eHi, in connection with its non-binding proposal (the "Proposal") of a "going-private" transaction with respect to eHi Car Services Limited ("eHi" or the "Company").
Ocean Link submitted the Proposal to the board of directors of eHi on April 2, 2018, pursuant to which Ocean Link proposed to acquire all of the outstanding common shares of the Company (including Common Shares represented by ADSs) for US$14.50 in cash per ADS or US$7.25 in cash per Common Share in a "going-private" transaction. Subsequently, on April 4, 2018, Ocean Link, through its affiliate, entered into a purchase and voting agreement with CDH Venture Partners II, L.P. ("CDH") for the purchase of CDH Car Rental Service Limited ("CDH Car"), the direct record holder of 538,764 Class A common shares (including 438,764 Class A common shares represented by 219,382 ADSs) and 8,599,211 Class B common shares of the Company.
Ocean Link welcomes other existing shareholders, including management shareholders, to join the consortium.
Ocean Link is a private equity firm with a focus on China's travel and leisure sectors. Ocean Link currently manages a USD fund and an RMB Fund. With teams in Shanghai, Beijing and Hong Kong, Ocean Link invests across the value chain and sub-verticals of the travel and leisure sectors, including online & offline travel services, hotels and resorts, destination services and entertainment, sector-related technology and business solutions providers. The funds investors include Chinese and global corporates, financial institutions, and sovereign wealth funds.
SOURCE Ocean Link