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CORRECTED-BRIEF-Ninetowns' special committee retains Piper Jaffray to consider "going-private" proposal
November 14, 2012 / 12:21 PM / 5 years ago

CORRECTED-BRIEF-Ninetowns' special committee retains Piper Jaffray to consider "going-private" proposal

(Corrects headline to say special committee formed to consider “going private” proposal retains Piper Jaffray as financial adviser. The formation of the special committee was previously announced.)

BANGALORE, Nov 14 (Reuters) - Nov 14 (Reuters) - Ninetowns Internet Technology Group Co Ltd : * Special committee selects financial and legal advisors * Has retained Piper Jaffray & Co as its financial advisor to assist the special committee in its work * Says committee to consider proposal from some directors, officers of co to buy all its outstanding shares * Source text: Ninetowns Internet Technology Group Company Limited (NASDAQ: NINE) (“Ninetowns” or the “Company”), one of China’s leading providers of online solutions for international trade, today announced that the Special Committee of its Board of Directors (the “Special Committee”), formed to consider a proposal from certain directors and officers of the Company, including Mr. Shuang Wang, Ms. Min Dong, Mr. Xiaoguang Ren, Mr. Kin Fai Ng, Mr. Bolin Wu, Mr. Zhonghai Xu and Mr. Tommy Siu Lun Fork (together, the “Consortium Members”), to acquire all of the outstanding ordinary shares of the Company not currently owned, legally or beneficially, by the Consortium Members in a “going private” transaction (the “Proposed Transaction”), has retained Piper Jaffray & Co. as its financial advisor, Latham & Watkins LLP as its United States legal counsel and Maples and Calder as its Cayman Islands legal counsel to assist the Special Committee in its work. The Special Committee is continuing its evaluation of the Proposed Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the Proposed Transaction or any other transaction, except as required under applicable law. * Further company coverage

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