Kirkland & Ellis is advising Hammer Capital as a member of an investor consortium (the other member being Tencent Holdings (HKSE: 700)) in the take-private of Bitauto Holdings Limited (NYSE: BITA) at US$1.1 billion. The Firm is also 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.
Bitauto provides internet content and marketing services, as well as transaction services, for China’s fast-growing automotive industry. Yixin, a subsidiary of Bitauto, is an online automobile finance transaction platform in China. Tencent and JD.com (NASDAQ: JD) are key shareholders of Bitauto and Yixin.
The Kirkland team was led by transactional partners Nicholas Norris, Daniel Dusek, Xiaoxi Lin and Carmen Lau, and investment funds partners Justin Dolling and Jennifer Feng.