Sequoia Capital China II L.P., Sequoia Capital China Partners Fund II, L.P., fund managed by Sequoia Capital China and Sequoia Capital China Principals Fund II, L.P., Leo Ou Chen and Yusen Dai made a non-binding proposal to acquire the remaining 45.6% stake in Jumei International Holding Limited (NYSE:JMEI) from K2 Partners L.P., F & H Fund Management Pte Ltd. and others for approximately $460 million in cash on February 17, 2016. The buyers will pay $7 per American depositary share, each representing one ordinary share. Leo Ou Chen, Founder, Chairman of the Board of Directors and Chief Executive Officer of Jumei along with Sequoia Capital will purchase the remaining shares in Jumei in a going private transaction. The transaction is intended to be financed with a combination of debt and/or equity capital. Equity financing will be provided in the form of cash and rollover equity in Jumei by buyers. Debt financing is expected to be provided by third-party loans. The transaction is subject to execution of the definitive agreements. On March 11, 2016, it was announced that the Board has formed a special committee to consider proposal that the Board received. Duff & Phelps acted as financial advisor while Maples and Calder (Cayman) and Stephanie tang, Kuinan Wie and Weina Guan of Shearman & Sterling LLP acted as legal advisors for special committee of the Board of Directors of Jumei. Sequoia Capital China II L.P., Sequoia Capital China Partners Fund II, L.P., fund managed by Sequoia Capital China and Sequoia Capital China Principals Fund II, L.P., Leo Ou Chen and Yusen Dai cancelled the non-binding proposal to acquire the remaining 45.6% stake in Jumei International Holding Limited (NYSE:JMEI) from K2 Partners L.P., F & H Fund Management Pte Ltd. and others on November 27, 2017.