Hammer Capital And Tencent Holdings’ Takeover Of Bitauto And Yixin


Kirkland & Ellis is advising Hammer Capital on the deal.

Hammer Capital and Tencent Holdings proposed a private transaction to acquire all of the outstanding ordinary shares of Bitauto Holdings Limited, 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, pursuant to the chain principle under the Hong Kong Takeovers Code.

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.

The Kirkland team is led by transactional partners Nicholas Norris (Picture), Daniel Dusek, Xiaoxi Lin and Carmen Lau, and investment funds partners Justin Dolling and Jennifer Feng.

Involved fees earner: Justin Dolling – Kirkland & Ellis; Daniel Dusek – Kirkland & Ellis; Jennifer Feng – Kirkland & Ellis; Carmen Lau – Kirkland & Ellis; Xiaoxi Lin – Kirkland & Ellis; Nicholas Norris – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Hammer Capital;