A Consortium Led By Yunfeng And Alibaba To Buy IKang For US$20.00/ADS

(RTTNews) - iKang Healthcare Group Inc. (KANG) announced certain developments with respect to the previously disclosed potential going private transaction proposed by Yunfeng Capital on June 6, 2016, which the Company's special committee of independent directors has been continuing to negotiate with Yunfeng.

In the Monday's pre-market trade, KANG is trading at $19.40, up $1.48 or 8.26%.

The Special Committee has received a proposal from Yunfeng and Alibaba Investment Limited, proposing a transaction in which a consortium led by Yunfeng and Alibaba would acquire all of the outstanding Class A common shares, Class C common shares and American depositary shares of the Company in an all-cash transaction for US$20.00 per ADS or US$40.00 per Share.

The Special Committee has been informed that Yunfeng and Alibaba are in discussions with certain significant shareholders regarding their potential support for the Yunfeng/Alibaba Proposal and potential rollover arrangements in connection with the proposed transaction.

The Special Committee will carefully consider and evaluate, with the assistance of the Special Committee's independent financial and legal advisors, the Yunfeng/Alibaba Proposal.