Tarena to Merge With Kidedu in Take-Private Deal

Paul, Weiss is representing KKR as a rollover shareholder in Tarena International, Inc.’s buyout by Kidedu Holdings Limited. Tarena is a leading provider of adult professional education and K-12 education services in China. Tarena will merge with a wholly owned Kidedu subsidiary, Kidarena Merger Sub. Upon the completion of the transaction, Tarena will become a privately held company wholly owned by Kidedu with an equity value of approximately $230.6 million.

Under the terms of the transaction, a consortium of shareholders including a KKR affiliate; Tarena’s founder and board chairman Shaoyun Han; and two other affiliates, will roll over all their shares in Tarena in exchange for $4.00 in cash per American depository share without interest. The merger consideration will be funded through cash contribution by Ascendent Capital Partners III, L.P. The transaction is expected to close during the third quarter of 2021, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team included corporate partners Judie Ng Shortell, Raphael Russo, Greg Liu and Tong Yu, and counsel Chikara Momota; and litigation partner Andrew Gordon.