China’s Meituan-Dianping acquires PE-backed Mobike
Meituan-Dianping, China’s largest online-to-offline (O2O) local services platform, has agreed to buy full control of bike-sharing company Mobike. Both companies are backed by Tencent Holdings and have received substantial private equity funding.
Financial terms were not disclosed but media reports said Mobike was valued at approximately $2.7 billion and Meituan-Dianping would pay through a combination of cash and shares. Mobike will continue...
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