Homeinns Gets Preliminary Non-Binding "Going Private" Proposal At $32.81/ADS

(RTTNews) - Homeinns Hotel Group (HMIN) announced that its Board has received a non-binding proposal letter, dated June 11, 2015, from BTG Hotels (Group) Co., Ltd., Poly Victory Investments Limited , Ctrip.com International, Ltd., Neil Nanpeng Shen, Co-Founder and Co-Chairman of the Board of the Company, James Jianzhang Liang, Co-Founder and Director of the Company and Chairman of the Board of Directors and Chief Executive Officer of Ctrip, and David Jian Sun, Chief Executive Officer and Director of the Company, proposing a "going-private" transaction to acquire all of the outstanding ordinary shares of Homeinns not already owned by the Buyer Group for US$32.81 in cash per American depositary share or "ADS", which represents a premium of 20% to the average closing trading price of the Company's ADSs during the past 20 trading days.

The Buyer Group beneficially owns an aggregate of approximately 35% of all of the Company's issued and outstanding ordinary shares.

According to the proposal letter, the Buyer Group intends to fund the consideration payable in the Transaction with a combination of debt and/or equity capital, and rollover equity in the Company.