Tarena Announces Investment From KKR And Shaoyun Han, Founder, Chairman

(RTTNews) - Tarena International Inc. (TEDU), a provider of professional education services in China, announced that KKR & Co. L.P. (KKR) and Shaoyun Han, founder, chairman and CEO of Tarena, had entered into definitive agreements to purchase an aggregate of US$90.5 million of ordinary shares in the Company from existing pre-IPO shareholders, which are funds managed by affiliates of Goldman Sachs and IDG Technology Venture Investments, LLC or the "selling shareholders".

As per the agreements, KKR has agreed to purchase 6.83 milliionb Class A ordinary shares, representing an approximately 13% stake in the Company, from the selling shareholders for US$70.0 million, and Shaoyun Han has agreed to purchase 2 million Class A ordinary shares, representing an approximately 3.8% stake in the Company, from the selling shareholders for US$20.5 million, in private transactions. Mr. Han intends to fund the purchase through the issuance by an entity wholly owned by Mr. Han of a convertible bond to KKR.

The share purchase and sale transactions are expected to close on various dates in July 2015, subject to the satisfaction of customary closing conditions.

Separately, Transphorm Inc announced a $70 million investment round led by global investment firm KKR. KKR's investment follows initial rounds of funding led by funds affiliated with Kleiner Perkins Caufield and Byers, Foundation Capital, Google Ventures, Soros Quantum Strategic Partners, INCJ, Fujitsu, Transphorm will use this funding to support its growth, product innovation and expansion.

As part of the transaction, KKR's David Kerko, Brittany Bagley and Eiji Yatagawa will join Transphorm's Board of Directors, and KKR has also nominated semiconductor industry veterans Mario Rivas and Michael White to the Transphorm board.