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

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.