Autohome (ATHM) Says Consortium Withdrew 'Going Private' Proposal

October 13, 2016 6:03 AM EDT

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Autohome Inc. (NYSE: ATHM) announced that the special committee of the board of directors of the Company (the “Special Committee”) has recently received a notice from Mr. James Zhi Qin (“Mr. Qin”), on behalf of the Consortium which included Mr. Qin, Boyu Capital Advisory Co. Ltd, Hillhouse TBC Holdings L.P. and Sequoia China Investment Management LLP, stating that the Consortium would like to withdraw the non-binding going private proposal (the “Proposal”) dated April 16, 2016. The notification stated that the Consortium had determined not to proceed with the Proposal under the current circumstances. As a result, the Special Committee was dissolved on October 12, 2016.

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