Tarena International, Inc. Announces Investment from KKR and Mr. Shaoyun Han, Founder, Chairman and CEO
Summary
BEIJING, June 22, 2015 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of professional education services in China, today announced that KKR, a leading global investment firm, and Mr. 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 (the "selling shareholders").Pursuant to these agreements, KKR has agreed to purchase 6,826,263 Class A ordinary shares, representing an approximately 13% stake in the Company, from the selling shareholders for US$70.0 million, and Mr. Shaoyun Han has agreed to purchase 2,000,000 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. "Tarenas mission is to improve careers and change the lives of our students by delivering high quality professional education services. We look forward to leveraging our global network and local experience to help Tarena capture new market opportunities. Its courses provide students with practical education to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, 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.