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Private equity consortium may acquire 9.4% stake in SINA Corporation

Posted on: Mon, 30 Nov 2009 13:35:00 EST

Symbols: SINA

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Nov 30, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
SINA | Quote | Chart | News | PowerRating -- According to The Wall Street Journal, private equity consortium, along with SINA Corporation management team, are planning to acquire a 9.4% stake in SINA Corporation, an online media company and a provider of value-added information services. The transaction is valued at approximately $180 million.

As a part of the consideration, Sina's chief executive officer Charles Chao may invest approximately $50 million and the consortium will provide the remaining $130 million.

The consortium includes Sequoia Capital US, Fountainvest Partners Co., Ltd. and Citic Capital Holdings Ltd. All SINA, Fountainvest Partners and Citic Capital are based in china.

Sequoia Capital is a venture capital firm, Fountainvest Partners is a private equity firm and Citic Capital Holdings is an investment management and advisory firm.

Deal Value (US$ Million) 180
Deal Type                Private Equity
Sub-Category             None
Deal Status              Rumour: 2009-11-27

Deal Participants

Target (Company)   SINA Corporation
Acquirer (Company) SINA Corporation - Management Team

% Acquisition 9.4%

For full details on Sina Corp (SINA) SINA. Sina Corp (SINA) has Short Term PowerRatings at TradingMarkets. Details on Sina Corp (SINA) Short Term PowerRatings is available at This Link.

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