58 the city will hold an interim shareholders’ meeting on September 7 to vote on the merger plan

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Beijing time on August 7 evening news, 58 city( NYSE:WUBA )It is announced today that a special general meeting of shareholders will be held at 10:30 a.m. Beijing time on September 7, 2020 at building 105, courtyard a, Jiuxianqiao North Road, Chaoyang District, Beijing to vote on the privatization agreement reached on June 15.
58 Tongcheng announced on June 15 that it had signed a merger agreement with quantum bloom Group Ltd. Under the terms of the merger agreement, the buyer’s investment consortium will purchase all of 58’s outstanding common shares at a cash price of $28 per common share (equivalent to $56 per ads), with a total transaction value of about $8.7 billion.
After the deal is completed, 58 will become a private company, and its American Depository shares (ads) will be delisted from the NYSE. 58 the local board of directors has approved the transaction and recommended that the company’s shareholders and ads holders vote to approve the transaction.
Registered shareholders will be entitled to attend and vote at this extraordinary general meeting at the end of business hours in the Caymans on 14 August 2020. Before the end of New York City business hours on August 10, 2020, ads holders will have the right to instruct Citibank, the ads trustee, to vote at an extraordinary general meeting.
It is reported that 58 local buyer investment consortia include Warburg Pincus investment, general Atlantic, gulling investment and Yao Jinbo, chairman and CEO of 58 city. The buyer’s investment consortium plans to fund the privatization of 58 cities in the form of a combination of equity and debt financing. (Youya)