SHANGHAI, June 19, 2015 /PRNewswire/ -- E-House
(China) Holdings Limited
("E-House" or the "Company") (NYSE: EJ), a leading real estate
services company in China, today
announced that the independent special committee of the
Company's Board of Directors (the "Independent Committee"), formed
to consider a non-binding "going-private" proposal by Mr.
Xin Zhou, co-chairman of the Board
and chief executive officer of E-House, and Mr. Neil Nanpeng Shen,
a member of the Board, was informed that SINA Corporation ("SINA")
(NASDAQ: SINA), an existing shareholder of the Company, had joined
the buyer group by entering into a consortium agreement with Mr.
Zhou and Mr. Shen (together with SINA, the "Consortium Members"),
pursuant to which they have agreed to, among other things, form a
consortium to work exclusively with one another to undertake the
"going-private" transaction to acquire all the outstanding shares
of the Company other than the shares owned by the Consortium
Members or their affiliates (the
"Transaction").
The Consortium Members and their respective affiliates currently
own, in the aggregate, approximately 48% of the Company's total
issued and outstanding shares.
E-House was also informed that SINA has agreed to exchange all
the E-House shares held by SINA at the closing of the Transaction
(the "Closing") for a portion of the ordinary shares of Leju
Holdings Limited ("Leju") held by E-House at the Closing, based on
an exchange ratio determined in accordance with a mutually agreed
formula. Leju is a majority owned subsidiary of E-House and is
listed on the New York Stock Exchange.
The Independent Committee is continuing its evaluation of the
Transaction. No decisions have been made by the Independent
Committee with respect to the Company's response to the
Transaction. There can be no assurance that any definitive offer
will be made, that any definitive agreement will be executed or
that the Transaction or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to this or any other transaction,
except as required under applicable law.
Safe Harbor: Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of
Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates," "may," "intend,"
"confident," "is currently reviewing," "it is possible," "subject
to" and similar statements. E-House may also make written or oral
forward-looking statements in its reports filed or furnished with
the U.S. Securities and Exchange Commission, including Forms 20-F
and 6-K, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about E-House's
beliefs and expectations, are forward-looking statements and are
subject to change. Forward-looking statements involve inherent
risks and uncertainties. A number of important factors could cause
actual results to differ materially from those contained, either
expressly or impliedly, in any of the forward-looking statements in
this press release. Potential risks and uncertainties are outlined
in E-House's filings with the U.S. Securities and Exchange
Commission. All information provided in this press release is
current as of the date of this press release, and E-House does not
undertake any obligation to update any such information, except as
required under applicable law.
About E-House
E-House (China) Holdings
Limited ("E-House") (NYSE: EJ) is China's leading real estate services company
with a nationwide network covering more than 260 cities. E-House
offers a wide range of services to the real estate industry,
including real estate online services through our 70%-owned
subsidiary, Leju Holdings Limited (NYSE: LEJU), primary sales
agency, secondary brokerage, information and consulting, offline
advertising and promotion, real estate investment management and
financial services, and community value-added services. E-House has
received numerous awards for its innovative and high-quality
services, including "China's Best
Company" from the National Association of Real Estate Brokerage and
Appraisal Companies and "China Enterprises with the Best Potential"
from Forbes. For more information about E-House, please visit
http://www.ehousechina.com.
For investor and media inquiries please contact:
In China:
Investor Relations
E-House (China) Holdings
Limited
Phone: +86 (21) 6133-0809
E-mail: ir@ehousechina.com
Mr. Derek Mitchell
Ogilvy Financial
In the U.S.: +1 (646) 867-1888
In China: +86
(10) 8520-6139
E-mail: ej@ogilvy.com
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SOURCE E-House (China) Holdings
Limited