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Tuniu Announces $500M Investment From HNA Tourism


Tuniu Corporation (Nasdaq: TOUR) and HNA Tourism Group ("HNA Tourism"), one of three strategic industrial conglomerates of HNA Group, today announced that they have entered into a strategic partnership. As part of the partnership, HNA Tourism is expected to invest US$500 million in Tuniu through the acquisition of Tuniu's newly issued Class A ordinary shares.

The purchase price for the transaction will be US$5.50 per Class A ordinary share, or the equivalent of US$16.50 per American Depositary Share ("ADS"). This purchase price represents an approximate 11.3% premium over the average closing trading price of Tuniu's ADSs for the 20 trading days prior to the announcement, and an approximate 5.0% premium over the closing trading price of Tuniu's ADS on November 20, 2015. Immediately following the completion of the transaction, HNA Tourism is expected to hold approximately 24.1% of Tuniu's total outstanding shares and become Tuniu's largest shareholder. The transaction is subject to customary closing conditions and is expected to close in December 2015. As part of this strategic partnership, HNA Tourism and Tuniu have entered

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