From Earlier: Campus Holdings Acquires Shares in Ambow Education for $48M

Ambow Education Holding Ltd.

and Baring Private Equity Asia announce the recent acquisition of shares in Ambow Education by Campus Holdings Limited. Campus Holdings was formed for the purpose of acquiring shares in the Company pursuant to a Participation Agreement dated October 26th, 2011 between Baring Asia and Dr. Jin Huang, the CEO and Chairwoman of Ambow Education. Under the Participation Agreement, both Dr. Jin Huang and Baring Asia have an economic interest in the shares of Ambow Education acquired by Campus Holdings, and have structured a long-term investment to focus on the future growth and development of the Company. From November 9th, 2011 to January 6th, 2012, Campus purchased an aggregate of 10,939,555 Class A ordinary shares and 477,475 Class B ordinary shares (a total of 11,417,030 ordinary shares) from third parties who are not affiliates of Campus in privately negotiated transactions for an aggregate consideration of $48,170,329. Upon the acquisition by Campus, the Class B ordinary shares automatically converted into Class A ordinary shares. Campus also acquired an aggregate of 234,296 ADSs, representing 468,592 Class A Shares, in open market transactions.