SHANGHAI: eHi Car Services Limited ("eHi" or the "Company") (NYSE: EHIC), a leading car rental and car services company in China, today announced that its Board of Directors (the "Board") has received a preliminary non-binding proposal letter (the "Proposal Letter"), dated November 26, 2017, from Goliath Advisors Limited ("Goliath"), a third party China-based investment fund.
According to the Proposal Letter, Goliath has proposed to acquire all outstanding common shares of the Company for US$13.35 in cash per American depositary share of the Company (each representing two Class A common shares) or US$6.675 in cash per common share of the Company.
The Board plans to evaluate the Proposal Letter. The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the Proposal Letter and no decisions have been made with respect to the Company's response to the Proposal Letter and the transaction contemplated thereby.
There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.
The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
