3 August, 2016
Bitauto Holdings Limited (NYSE: BITA), a leading provider of internet content and marketing services for China's automotive industry, announced on August 2, 2016, that an investor consortium comprised of Tencent Holdings Limited, Baidu, Inc., JD.com, Inc., Bitauto and other investors has entered into an agreement to invest US$550 million in cash in Yixin Capital Limited, a subsidiary of Bitauto primarily engaged in e-commerce-related automotive financing platform business.
Skadden acted for Bitauto and Yixin Capital. The Skadden team includes partners Julie Gao and Haiping Li, and associates Hongtao Lu, Yuling Geng, William Zhu (all Hong Kong) and Peter Pang (Shanghai).
