17 June, 2020
Skadden is advising 58.com Inc., China's largest online classifieds marketplace, on its US$ 8.7 billion going-private acquisition by a consortium of investors led by Quantum Bloom Group Ltd., and its subsidiary Quantum Bloom Company Ltd.
The consortium includes Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, Mr. Jinbo Yao, chairman of the board of directors and Chief Executive Officer of 58.com, and Internet Opportunity Fund LP, an entity controlled by Mr. Jinbo Yao.
The transaction is currently expected to close during the second half of 2020, subject to customary closing conditions.
