China: Jiayuan.com enters merger agreement

Jiayuan.com International, operator of the largest online dating platform in China, today announced that it has entered into an agreement and plan of merger with LoveWorld and FutureWorld, a wholly-owned subsidiary of Parent. Parent and Merger Subsidiary are indirect, wholly-owned subsidiaries of Baihe Network a joint-stock company listed on the National Equities Exchange and Quotations of the PRC.

The Merger, which is currently expected to close no later than the first quarter of 2016, is subject to customary closing conditions, including the approval by an affirmative vote of shareholders holding two-thirds or more of the votes represented by the Shares present and voting in person or by proxy as a single class at the extraordinary general meeting, which will be convened to consider the approval of the Agreement and the Transactions, including the Merger. If completed, the Transactions will result in the Company becoming a privately-held company and its ADSs will no longer be listed on NASDAQ.

After the Merger is completed, Mr. Linguang Wu, director and chief executive officer of the Company, will serve as co-chairman and co-chief executive officer of the Surviving Company, and Baihe will initiate its name changing process.

Full content: The Wall Street Transcript

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.