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Announced

Primavera Capital-led consortium to acquire a majority stake in Zhaopin from SEEK for $552m.

Financials

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Transaction Value£309m
Consideration TypeCash
Capital Owned-
Capital Bid For77%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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China

Private Equity

Pending

human resources

Outsourced HR and Staffing

Private

recruitment

Friendly

Majority

Cross Border

Mbo

Acquisition

Synopsis

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Primavera Capital-led consortium, which includes FountainVest Partners, a private equity firm, and Zhaopin management, agreed to acquire a majority stake in Zhaopin, a Chinese recruitment firm, from SEEK, which facilitates the matching between jobseekers and employment opportunities and helps hirers find candidates for advertised roles, for $551.7m. "When we first invested 15 years ago Zhaopin was a loss-making and distant number three player. Our long-term approach combined with the strong management team led by Evan Guo has transformed Zhaopin into a market leader across many key metrics and it now generates strong cash flows. The Consortium will play an important role in helping Zhaopin to deliver on its long-term growth strategy," Andrew Bassat, SEEK CEO and Co-Founder.

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