BEIJING, Feb. 7, 2013 /PRNewswire/ -- ChinaEdu Corporation (NASDAQ: CEDU) ("ChinaEdu" or the "Company"), a leading online educational services provider in China, announced today that it has completed privately negotiated transactions with Columbia Pacific Advisors, LLC, Lake Union Capital Management, LLC, New Vernon Investment Management LLC and associates, HC PRCEDU LLC, Pretty Wisdom Management Ltd. and J. Steven Emerson. In aggregate, the Company repurchased 5,467,902 American Depositary Shares ("ADSs"), each representing three (3) ordinary shares of ChinaEdu, at a purchase price of $5.60 per ADS (or $1.87 per ordinary share). The Company also completed privately negotiated transactions with Bessemer Venture Partners VI Institutional L.P., Bessemer Venture Co-Investment L.P. and Bessemer Venture Partners VI L.P., repurchasing 2,202,709 ordinary shares (equivalent of 734,236 ADSs) at a purchase price of $1.87 per ordinary share (equivalent to $5.60 per ADS). In addition to the above privately negotiated transactions, the Company also repurchased 277,316 ADSs from the open market at $5.60 per ADS. The total purchase price of these share repurchases was approximately $36.3 million, which was financed by a bank loan and the Company's own capital. The shares repurchased by the Company represented approximately 36% of the Company's total ordinary shares issued and outstanding. ChinaEdu's executive chairman Julia Huang commented, "Today's successful completion of the stock repurchase reflects the board of directors' continued confidence in the Company's near and long term financial and operating goals as well as its continued commitment to enhancing stockholder value. Other factors being equal, the stock repurchase will increase the Company's earnings per share." The board of directors of ChinaEdu authorized the repurchases and the obtainment of financing given ChinaEdu's current financial and operating performance, available capital surplus, future prospects, current market conditions and other strategic planning considerations.