Human Capital Services | Beijing, China | Public-to-Private Buyout
SEEK (ASX: SEK), an Australian jobs site, has formed a consortium with Hillhouse Capital Group and FountainVest Partners to explore the potential privatization of Chinese counterpart Zhaopin (NYSE: ZPIN). The consortium may look to fund part of the deal with a cash dividend from Zhaopin. SEEK already holds a 75% interest in the target and will seek to retain a similar controlling interest in the privatized company if the deal closes. Stock in both companies gained roughly 6% on Friday.