* Deal values co at $91.2 mln
* Each shareholder to get $4.25
* Shares up as much as 13 pct
(Adds share movement, background)
June 30 China Natural Gas Inc said a
group backed by Themes Investment Partners will take it private,
in a deal valuing the distributor of compressed natural gas at
$91.2 million, sending its shares up as much as 13 percent.
Each shareholder of the Chinese company will get $4.25 per
share in cash, a 23 percent premium over the company's
Wednesday's close on Nasdaq, China Natural Gas Chief Executive
Qinan Ji said in a statement.
Themes Investment Partners is a China-focused private equity
Shares of the company, were up more than 6 percent at $3.68
on Thursday. They had been halted earlier in the session. The
stock has lost about 37 percent in the last six months.
China Natural Gas, which appointed a new chief financial
officer in December, has a market capitalisation of $74.2
million and long-term debt of $42.6 million, according to
The company, which provides natural gas for industrial,
commercial and residential use, claims to own and operates a
120-kilometer-long compressed gas pipeline in Xi'an, China.
(Reporting by Vaishnavi Bala in Bangalore; Editing by Joyjeet