Australasian-based job board SEEK’s subsidiary Zhaopin has received an offer from Chinese investment firms CDH V Management and Shanghai Goliath Investment Management for all outstanding shares. 

US-listed Zhaopin is a job board servicing the Chinese market. 

The buying party’s preliminary, non-binding offer is for US$17.50 (£12.40) in cash per American Depositary Share (each worth two ordinary shares), or $8.75 cash per ordinary share. The offer states the group is after all Zhaopin shares not currently held by SEEK.

According to SEEK’s website, it holds a 56% stake in Zhaopin, although Australian media reports state it holds a 68% stake. Recruiter has asked for clarification but did not hear back by deadline.

SEEK has said little about the offer besides that it expects the buyer will “endeavour to negotiate arrangements with SEEK for the future management of Zhaopin” and that it will update the market as appropriate. 

Zhaopin’s board says it will evaluate the offer.