CHONGQING, China, Sept. 21, 2015 /PRNewswire/ -- Country Style
Cooking Restaurant Chain Co., Ltd. (NYSE:CCSC) ("Country Style
Cooking" or the "Company"), a fast-growing quick service restaurant
chain in China, today announced
that the special committee (the "Special Committee") of the
Company's board of directors (the "Board") has retained Duff &
Phelps Securities, LLC and Duff & Phelps, LLC as its
independent financial advisor and Kirkland & Ellis as its U.S.
legal counsel in connection with its review and evaluation of the
previously-announced non-binding proposal letter (the "Proposal")
that the Board received on August 14,
2015 from Ms. Hong Li,
Co-Founder and Chairwoman of the Board, Mr. Xingqiang Zhang, Co-Founder, Chief Executive
Officer and Director of the Company, and Sky Success Venture
Holdings Limited (collectively, the "Buyer Group"), proposing to
acquire all of the outstanding ordinary shares of the Company not
already owned by the Buyer Group and its affiliates in a "going
private" transaction (the "Transaction").
The Company cautions its shareholders and others considering
trading in the Company's securities that the Special Committee is
continuing its evaluation of the Transaction and that, at this
time, neither the Board nor the Special Committee has made any
decision with respect to the Company's response to the Proposal.
There can be no assurance that any definitive offer will be made by
any person, that any agreement will be executed or that the
Transaction or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to the Transaction or any other
transaction, except as required under applicable law.
Safe Harbor Statement
All statements other than statements of historical fact
contained in this press release are forward-looking statements,
which are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially. Uncertainties and assumptions, and the
forward-looking events and circumstances discussed in this press
release are inherently uncertain and may not occur, and actual
results could differ materially and adversely from those
anticipated or implied in the forward-looking statements.
Accordingly, you should not rely upon forward-looking statements as
predictions of future events. The Company does not undertake any
obligation to update publicly or revise any forward-looking
statements for any reason after the date of this press release, nor
to conform these statements to actual results, future events, or
changes in the Company's expectations.
About Country Style Cooking Restaurant Chain Co.,
Ltd.
Country Style Cooking Restaurant Chain Co., Ltd. (NYSE: CCSC)
("Country Style Cooking") is a fast-growing quick service
restaurant chain in China,
offering delicious, everyday Chinese food to customers who desire
fast and affordable quality meals. Country Style Cooking directly
operates all of its restaurants and is the largest quick service
restaurant chain in Chongqing
municipality, home to Sichuan
cuisine, one of the best-known Chinese regional cuisines.
Additional information about Country Style Cooking can be found at
http://ir.csc100.com.
Contact:
Country Style Cooking Restaurant Chain Co., Ltd.
Phone: +86-23-8866-8866
Email: ir@csc100.com
ICR Inc.
Bill Zima
Phone: +86-10-6583-7511 or +1-646-328-2520
E-mail: bill.zima@icrinc.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/country-style-cooking-special-committee-appoints-independent-financial-advisor-and-legal-counsel-300146068.html
SOURCE Country Style Cooking Restaurant Chain Co.,Ltd.
