Photo/Shetuwang

Feb. 26 (NBD) -- China's online beauty retailer Jumei International Holding Limited ("Jumei International", NYSE: JMEI) has entered into an agreement with Super ROI Global Holding Limited ("Super ROI") and its wholly-owned subsidiary Jumei Investment Holding Limited ("Jumei Investment") to go private. 

Under the terms of the agreement revealed on Tuesday night, Jumei Investment will immediately press ahead with a tender offer to acquire all the outstanding Class A ordinary shares of Jumei International at 2.0 U.S. dollars per share or American Depositary Shares (ADS) at 20 U.S. dollars each in cash. Each ADS represents ten Class A ordinary shares. 

After completion of the tender offer, Super ROI will acquire all remaining shares not held by Jumei Investment through a "short-form" merger of Jumei Investment and Jumei International in which Jumei International will be the surviving company and will become a wholly-owned subsidiary of Super ROI. 

National Business Daily noticed that Super ROI is ultimately wholly-owned by Mr. Leo Ou Chen, the founder and chairman of Jumei International. 

The merger is expected to close in the second quarter of 2020. If completed, ADSs of Jumei International will no longer be listed on the New York Stock Exchange, and the ADS program will be terminated.

Shares of Jumei International soared 26.18 percent to close at 19.52 U.S. dollars on Tuesday (U.S. time). 

Email: gaohan@nbd.com.cn