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Monster to Complete ChinaHR Purchase in Q3
CHNVC.com, 8/26/08
Global online recruitment site Monster has recently released its second quarter financial report, which shows that the company is finalizing its acquisition plans for the Chinese recruitment website ChinaHR. The Chinese firm reached an agreement with Monster in 2005 under which Monster would either help it IPO within three years, or purchase the company. The time limitation has now expired.
During its Q2 results conference call, a spokesperson for Monster stated that negotiations had reached a key stage, and he hoped the trade would be finished for a relatively low price in Q3.
Editor's Note: When originally published, this article incorrectly stated that Monster was purchasing online real estate firm 51.job.
Keywords: M&A, ChinaHR, Internet, IPO, Monster, online recruitment
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