Haier Group to acquire near 42% stake in Autohome for $1.8 billion (updated)

Autohome

20/02/2025 10:20

(Adds details, background in paragraphs 2 and 3)
       Feb 20 (Reuters) - Hong Kong-listed Autohome  2518.HK 
said on Thursday its controlling shareholder Yun Chen Capital
Cayman has agreed to sell its 41.91% stake in the company to a
unit of Haier Group Corp for $1.8 billion.
    Yun Chen, a unit of Ping An Insurance  601318.SS , will
cease to be a controlling shareholder of the Chinese online
advertising services provider following the sale, retaining
around 23.9 million shares, Autohome added in the statement.
    China's Haier Group Corp owns home appliance maker Haier
Smart Home  600690.SS .

 (Reporting by John Biju in Bengaluru; Editing by Mrigank
Dhaniwala and Vijay Kishore)
 ((John.Biju@thomsonreuters.com;))