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Skadden Represents Bitauto As It Forms Strategic Partnership With JD.com And Tencent.

13 January, 2015

 

Bitauto Holdings Ltd., JD.com, Inc., and Tencent Holdings Ltd. have jointly announced that they have entered into an agreement whereby JD.com and Tencent will invest approximately USD 1.3bn in Bitauto, and USD 250m in YiXin Capital Ltd., a subsidiary of Bitauto. Upon completion of the transactions, the three companies will form a strategic partnership to work together to provide enhanced online automotive transaction services to car buyers across China.

 

Skadden represented Bitauto on the transactions, which were announced on January 9, 2015, and are expected to close in the first half of 2015. The team was led by Hong Kong Corporate partner Julie Gao.

 

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