ChinaEdu Corp Announces Receipt Of Going Private Proposal

ChinaEdu Corporation announced that its board of directors has received a preliminary, non-binding proposal letter dated June 20, 2013 from Julia Huang, executive chairman of the board of directors and Shawn Ding, CEO of the Company (collectively, the Buyer Parties), to acquire all of the outstanding ordinary shares of the Company not currently owned by the Buyer Parties and certain other shareholders of the Company who may join the Buyer Parties, including ordinary shares represented by the Company's American depositary shares, or ADSs (each representing three ordinary shares of the Company), at a proposed price of $2.33 in cash per ordinary share, or $7.00 in cash per ADS, subject to certain conditions. According to the proposal letter, the acquisition is intended to be financed by debt and/or equity capital and the Buyer Parties have been in discussions with one or more financial institutions which have expressed interest in financing the proposed acquisition.