Bitauto Announces Receipt of Preliminary Non-Binding "Going Private" Proposal
BITAUTO HOLDINGS (BITA)
Last bitauto holdings earnings: 3/26 06:00 am
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US:NYSE Investor Relations:
ir.bitauto.com
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Source: PR Newswire
BEIJING, Sept. 13, 2019 /PRNewswire/ -- Bitauto Holdings Limited ("Bitauto" or the "Company") (NYSE: BITA), a leading provider of internet content & marketing services, and transaction services for China's fast-growing automotive industry, today announced that its Board of Directors (the "Board") has received a preliminary non-binding proposal letter, dated September 12, 2019, from Tencent Holdings Limited and Hammer Capital (together, the "Buyer Group"), proposing to acquire all of the outstanding ordinary shares of Bitauto not already owned by the Buyer Group or their affiliates for US$16 in cash per American depositary share ("ADS") in a going private transaction (the "Transaction").A copy of the proposal letter is attached as Annex A to this press release. The Board will form an independent special committee to consider the Transaction.The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding proposa
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