2017-投资界电子周刊No0584-英文版_11页_788kb

PEdaily E-Magazine Issue No. 584 Summary

Core Content

PEdaily E-Magazine is a weekly publication aimed at providing in-depth information and insights for professionals in the private equity (PE) and venture capital (VC) sectors. It was previously known as Zero2ipo e-Weekly, first published in 2006. The magazine integrates over 10 years of research resources from the Zero2IPO Group, offering timely, accurate, and detailed market reports. It covers a wide range of topics, including investment and financing news, industry trends, data analysis, personality profiles, and expert opinions. The platform is dedicated to building a professional website with extensive data and analysis, serving as a valuable resource for investors, entrepreneurs, analysts, and lawyers.

Main Points and Key Information

M&A Activity in China (May 2013)

• In May 2013, there were 69 closed M&As in China, with a total value of approximately US$3.39 billion.
• The average transaction value was US$49.07 million.
• M&A activity showed a 33.9% increase compared to April 2013, but a 31.2% decrease year-on-year.
• In May 2012, there were 16 cross-border M&As with a total value of US$4.00 billion, significantly higher than in May 2013, indicating a year-on-year decline in M&A scale.

Major M&A Deals

• IFLYTEK Acquires Morning Star Technology:

  • IFLYTEK plans to acquire 100% stake in Guangdong Morning Star Software Technology Co., Ltd. for RMB480 million.
  • The Equity Transfer Agreement was signed on June 24, 2013, with 29 shareholders, including Hu Hongwei.

• 7 Days Inn Privatization:

  • The special shareholders' meeting passed the privatization agreement.
  • The privatization price increased from US$12.7 per ADS to US$13.8 per ADS.
  • The announcement was made on June 26, 2013.

• Yongyou Software Transfers Stake in RayooTech:

  • Yongyou Software plans to transfer its 18.7252% stake in RayooTech to Shenzhen Fortune Chuangheng, Shenzhen Fortune Chuangtai, and Shenzhen Fortune Chuangrui Equity Investment Companies.
  • The transfer price was RMB75.37 million.
  • After the transfer, Yongyou Software will no longer hold any stake in RayooTech.

Fundraising Activity

• Envision Capital Fund Phase II completed fundraising on May 30, 2013.
• The fund size totaled RMB412 million.
• This is the second RMB fund raised by Envision Capital.

Venture Capital Investment

• ZhenFund invested in 51zhichang.com, an online education and employment service company.
• ZhenFund is a top angel fund co-founded by Xu Xiaoping and Wang Qiang, founders of New Oriental, and Sequoia Capital.
• ZhenFund has a focus on China's online education training institutions.

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Conclusion

This issue of PEdaily E-Magazine highlights a decline in M&A activity in China compared to the previous year, with a notable increase in May 2013. It also reports on significant M&A deals such as IFLYTEK's acquisition of Morning Star Technology, 7 Days Inn's privatization, and Yongyou Software's stake transfer in RayooTech. Additionally, it covers fundraising success for Envision Capital and a new investment by ZhenFund in the online education sector. The magazine continues to serve as a key resource for industry insiders, providing up-to-date and detailed market insights.