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Chinese Online Dating Firm Jiayuan Anticipates 30 April Close to Merger.

M2 EQUITYBITES-March 10, 2016-Chinese Online Dating Firm Jiayuan Anticipates 30 April Close to Merger

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10 March 2016 - Chinese online dating platform operator Jiayuan.com International Ltd. (NASDAQ: DATE) anticipates that its merger with LoveWorld Inc. and its FutureWorld Inc. subsidiary will close on or before 30 April, the company said.

Last December, Jiayuan.com entered into an agreement and plan of merger with LoveWorld Inc. and its FutureWorld Inc. subsidiary, the company said.

Under the deal, LoveWorld will acquire the company for cash consideration equal to USD 5.04 per ordinary share of the company and USD 7.56 per American depositary share of the company each two ADSs representing three shares.

The deal is worth around USD 250m.

On December 29, 2015, the company's shareholders voted in favour of the proposal to authorise and approve a 7 December 2015 deal.

The parties currently expect to complete the merger on or before 30 April 2016

Barclays Bank PLC is serving as financial advisor to the Special Committee. Davis Polk and Wardwell is serving as US legal advisor to the Special Committee and Walkers is serving as Cayman Islands legal advisor to the Special Committee.

Shearman and Sterling is serving as legal advisor to Barclays Bank PLC.

Paul Hastings LLP is serving as US legal advisor to the company and Zhong Lun Law Firm is serving as PRC legal advisor to the company.

Skadden, Arps, Slate, Meagher and Flom LLP is serving as US legal advisor to Baihe, De Heng Law Offices is serving as PRC legal advisor to Baihe, Conyers Dill and Pearman is serving as Cayman Islands legal advisor to Baihe, and Haitong Security and Shiner Capital are serving as financial advisors to Baihe.

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Date:Mar 10, 2016
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