CDH Investments to Exit CNinsure for US$54 Million (Asia)
Source: CNinsure, Greater China Private Equity Review | Author(s): Stephen Leung
China-focused private equity and venture capital firm CDH Investments has agreed to sell back its shares in NASDAQ-listed CNinsure, a China-based insurance intermediary company and online insurance service provider, to certain members of the company’s management. CNinsure’s management will purchase 7.7 million shares at a price of US$7 per share, totaling US$54 million. Upon completion of the transaction, the management’s stake will increase from 3.1 percent to 16.6 percent. CDH originally invested US$18.6 million in the company in 2005.