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BEIJING, April 15, 2016 -- Mr. James Zhi Qin (“Mr. Qin”), Boyu Capital (“Boyu”), Hillhouse Capital (“Hillhouse”) and Sequoia China (“Sequoia”) jointly announce today that they have formed a consortium which has submitted to the board of directors of Autohome Inc. (“Autohome”) (NYSE:ATHM) a preliminary non-binding proposal (the “Proposal”) to acquire Autohome.
The consortium includes Mr. Qin, chief executive officer of Autohome, and Boyu, Hillhouse and Sequoia. Under the Proposal, the consortium will acquire all the outstanding shares and ADSs of Autohome in cash for US$31.50 per Class A common share, US$31.50 per Class B common share and US$31.50 per ADS. It represents a highly attractive premium of approximately 12.1% to the volume-weighted average price during the last 30 trading days and a premium of approximately 20.7% to the volume-weighted average price during the last 60 trading days.
The consortium will form an acquisition company for the purpose of implementing the transaction and intends to finance it with equity from its members and bank financing. The Proposal is subject to further negotiation of definitive agreements and the satisfaction of customary closing conditions, including regulatory approvals.
About Boyu
Boyu Capital is a leading private investment firm with over US$5 billion equity capital commitments and offices in Hong Kong and Beijing. Founded in 2011 by a team of experienced investors and business operators, Boyu provides growth and transformational capital and strategic support for its portfolio companies through long-term partnerships with management teams. With a strong focus in healthcare, media and technology, financial services and consumer/retail industries, Boyu has become the partner of choice by many industry leaders in China.
About Hillhouse
Hillhouse Capital is one of the largest and best performing investment platforms in Asia. Hillhouse invests with a long-term time horizon and employs a fundamental, bottom-up approach. Independent proprietary research is key to Hillhouse’s investment process. Hillhouse team focuses on the consumer, TMT, industrials and healthcare sectors and invests in companies across all equity stages. Hillhouse manages capital for institutional clients such as university endowments, foundations, sovereign wealth funds, pensions and family offices.
About Sequoia
Sequoia is an international private equity and investment firm. Since its inception in September 2005, Sequoia China funds has initiated and managed numerous U.S. dollar and RMB funds, and has become one of China’s most successful venture capital and private equity funds.
Contact: James Qin +8610 5987 1535 [email protected]
