News & Announcements

Weil Advises Chairman and CEO of 58.com on its Proposed Going-Private Merger

Weil represented Mr. Jinbo Yao, Chairman of the Board and CEO of 58.com Inc. (58.com), and the consortium, in connection with the signing of an Agreement and Plan of Merger with Quantum Bloom Group Ltd and its wholly owned subsidiary Quantum Bloom Company Ltd. Upon completion, 58.com will be acquired by a consortium of investors including Mr. Yao, Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited and Internet Opportunity Fund LP, an entity controlled by Mr. Yao, in a transaction implying an equity value of approximately $8.7 billion. The transaction is expected to close during the second half of 2020 and is subject to customary closing conditions.   

The Weil team was led by Hong Kong Private Equity partners Tim Gardner and Chris Welty and included counsel Kris Desrosiers and associate Qi Zhang

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