Kirkland & Ellis is advising Hammer Capital as a member of an investor consortium (the other member being Tencent Holdings (HKSE: 700)) in a proposed going private transaction to acquire all of the outstanding ordinary shares of Bitauto Holdings Limited (NYSE: BITA) not already owned by the investor consortium or their affiliates for US$16 in cash per American depositary share, as well as advising the investor consortium in the consequential mandatory general offer for the shares of Yixin Group Limited (HKSE: 2858) pursuant to the chain principle under the Hong Kong Takeovers Code.
Read more at the releases by Bitauto and Yixin
Bitauto is a leading provider of internet content & marketing services, and transaction services for China's fast-growing automotive industry. Yixin, a subsidiary of Bitauto, is a leading online automobile finance transaction platform in China, which provides transaction platform services as well as self-operated financing services. Tencent and JD.com (NASDAQ: JD) are key shareholders of Bitauto and Yixin.
The Kirkland team is led by transactional partners Nicholas Norris, Daniel Dusek, Xiaoxi Lin and Carmen Lau, and investment funds partners Justin Dolling and Jennifer Feng.