Autohome CEO makes case for management buyout

Beijing

AUTOHOME Inc's chief executive officer, who is leading a management buyout offer to prevent its Australian parent from selling control to China's second-largest insurer, said his proposal is in the best interest of shareholders and the company as he seeks to scuttle a binding deal.

The management-led group is offering a higher price, has enough funding and keeping the company in the hands of the executives will help the car-information provider transform itself into an online-transaction powerhouse, Autohome CEO James Qin said on Friday in his first media interview since announcing the rival bid last month. Mr Qin, who spoke as head of the bidding group and not as Autohome's CEO, declined to comment on his next steps.