58.com to acquire certain number of shares of Golden Pacer
58.com announced that it has entered into definitive agreements to acquire a certain number of shares of Golden Pacer, a leading financial technology platform in China, by converting its profit participation right with respect to the financial services and other finance related business disposed by the company in 2017 to equity stake in Golden Pacer. Golden Pacer is the ultimate holding company of the Disposed Business. In parallel, Golden Pacer entered into definitive agreements with Uxin Limited, a leading national online used car dealer in China, pursuant to which Golden Pacer will acquire the loan facilitation related business from Uxin and Uxin will receive a certain number of shares of Golden Pacer as part of the consideration. As a result, upon the completion of these transactions, the company will hold approximately 32.6% of the share capital of Golden Pacer on a fully diluted basis. The transactions contemplated under the definitive agreements are subject to certain closing conditions, and are currently expected to close by the end of 2019.