Brief: Yixin Group Updates On Possible Cash Offer By Consortium Of Tencent Mobility & Hammer Capital​

Yixin

15/06/2020 16:13

June 15 (Reuters) - Yixin Group Ltd  2858.HK :
    * YICHE HOLDING, YICHE MERGERSUB & BITAUTO HOLDINGS ENTERED
MERGER
AGREEMENT
    * YICHE HOLDING, YICHE MERGERSUB & BITAUTO AGREED TO EFFECT
BUSINESS COMBINATION VIA STATUTORY MERGER OF MERGER SUB WITH
BITAUTO
    * CONSORTIUM OF TENCENT AND HAMMER CAPITAL TO MAKE YIXIN
SHARE
OFFER UPON MERGER CLOSING
    * YIXIN SHARE OFFER PRICE OF HK$1.9088 FOR EACH YIXIN OFFER
SHARE
    * OFFERS ARE VALUED AT ABOUT HK$2.84 BLN IN AGGREGATE
    * AFTER MERGER, THERE WILL BE A CHANGE IN STATUTORY CONTROL
OF
BITAUTO, AS A RESULT CONSORTIUM & AFFILIATES WILL ACQUIRE
CONTROL OF CO
    * YIXIN SHARE OFFER & YIXIN OPTION OFFER VALUED AT HK$2.84
BILLION
IN AGGREGATE
    * APPLICATION MADE TO STOCK EXCHANGE FOR RESUMPTION OF
TRADING IN
YIXIN SHARES FROM 9:00 A.M. ON 16 JUNE

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS9NkHRy
Further company coverage:  2858.HK 

 (Reuters.Briefs@thomsonreuters.com)