58.com Announces Receipt of Updated Preliminary Non-Binding Proposal
58. COM INC (WUBA)
Last 58. com inc earnings: 3/11 07:00 pm
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US:NYSE Investor Relations:
58.investorroom.com
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Source: PR Newswire
BEIJING, April 30, 2020 /PRNewswire/ -- 58.com Inc. (NYSE: WUBA) ("58.com" or the "Company"), China's largest online classifieds marketplace, today announced that its Board of Directors (the "Board") has received a preliminary non-binding proposal letter dated April 30, 2020 (the "Proposal Letter") from Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, and Mr. Jinbo Yao, Chairman of the Board and Chief Executive Officer of 58.com (collectively, the "Consortium"), with respect to the proposed "going-private" transaction (the "Proposed Transaction") wherein the Consortium proposes to acquire all of the outstanding ordinary shares of the Company, including Class A ordinary shares represented by the American Depositary Shares of the Company (the "ADSs", each representing two Class A ordinary shares) for US$27.50 in cash per ordinary share, or US$55.00 in cash per ADS. A copy of the proposal letter is attached hereto as Exhibit A. The Consort
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