A take-private bid supported by Asia Pacific private equity investor Morgan Stanley Private Equity Asia (MSPEA) to delist China-based agricultural nutrient company Yongye International from the NASDAQ Stock Market has received shareholder approval. The investing consortium, which is led by Yongye's chairman and CEO Zishen Wu and includes MSPEA, will pay US$7.10 per share for all outstanding American depository shares, valuing the company at approximately US$360 million. MSPEA and Wu will rollover their existing stakes into the acquisition vehicle, while Wu and China-based financial services company Lead Rich International will provide additional cash equity financing. China Development Bank's Inner Mongolia branch has also agreed to provide up to US$214 million in debt financing. MSPEA originally invested US$50 million in the company in June 2011.