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Monster To Wholly Acquire Chinahr.com
February 4, 2008 |
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Comments | Category: Business
American online recruitment service provider Monster.com said that it would acquire 55% of the stake of Chinahr.com in the middle of 2008, a move that will make it a complete owner of Chinahr.com.
Monster will pay US$200 million to US$225 million in cash to the shareholders of Chinahr.com to get the remaining 55% stake.
In February 2005, Monster acquired 40% of the stake of Chinahr.com for US$50 million and promised that it would purchase more than 51% of the company's stake if it could not get listed within three years. In January 2006, Monster acquired another 5% stake of Chinahr.com, but by that time it only owned about 45% of the latter's total stake.
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