22 May, 2017
Paul, Weiss represented Tencent in the Series C financing of Yixin Capital Limited (Yixin). Tencent invested in Yixin in this round of financing with other investors including Bitauto (NYSE: BITA), China Orient AMC International, and others. This round of financing involves up to RMB 4 billion (approximately US$580 million) investment into Yixin. Yixin is a subsidiary of Bitauto that provides an online platform for automotive financing. Paul, Weiss also assisted Tencent in its participation of the Series B financing of Yixin. Upon closing, expected by the end of May, Tencent will remain Yixin’s second largest shareholder.
The Paul, Weiss team included corporate partners Jeanette Chan and Tong Yu and counsel Corinna Yu.
