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E-House (China) Holdings
Limited ("E-House" or the "Company")
, a leading real estate
services company in China, today announced that its board of directors (the
"Board") has received a revised non-binding proposal, dated November 2,
2015, from the consortium consisting of Mr. Xin Zhou, co-chairman of the
Board and chief executive officer of E-House, Mr. Neil Nanpeng Shen, a
member of the Board, and SINA Corporation (collectively, the "Consortium
Members"), reaffirming the Consortium Members' interest in pursuing a "going
private" transaction (the "Transaction") to acquire all of the outstanding
ordinary shares of E-House not already owned by the Consortium Members or
their respective affiliates for a revised cash consideration of US$6.64 per
American depositary share. A copy of the proposal letter is attached hereto
as Annex A.
The independent committee of the Board (the "Independent Committee"), formed
to consider the proposed Transaction, is evaluating this revised proposal.
The Independent Committee cautions the Company's shareholders and others
considering trading in the Company's securities that no decisions have been
made by the Independent Committee with respect to the Company's response to
the revised proposal. There can be no assurance that any definitive offer
will be made, that any definitive agreement will be executed or that the
Transaction or any other transaction will be approved or consummated. The
Company does not undertake any obligation to provide any updates with
respect to this or any other transaction, except as required under
applicable law.
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