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March 22, 2013
10:33 EDTJADELJ International enters pact with Flora Bloom for "going private" transaction
LJ International (JADE) announced that it has entered into an agreement and plan of merger with Flora Bloom Holdings and Flora Fragrance Holdings Limited, a business company with limited liability incorporated under the laws of the British Virgin Islands and a wholly-owned subsidiary of Parent, pursuant to which Parent will acquire the company for US$2.00 per ordinary share of the Company. This transaction price represents a 24.2% premium over the closing price of the Company's ordinary shares on August 10, 2012, the last trading day prior to the Company's public announcement that it had received a "going private" proposal, and a 29.0% premium over the volume weighted average price of the Company's ordinary shares over the 60 trading days ended on August 10, 2012. Immediately following the Transaction, Parent will be owned by a consortium of investors led by Yu Chuan Yih, Chairman and CEO of the Company and including (i) Urban Prosperity Holding Limited, an entity owned and controlled by FountainVest China Growth Capital Fund, L.P. and its parallel funds and affiliates, (ii) Peter Au, Ka Man Au, Mr. Hon Tak Ringo Ng, Mr. Yuin Chiek Lye and . Vicky Chan, each a member of the management of the Company, and (iii) Zhicheng Shi and certain of his affiliated companies.
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