Paul Hastings and Sullivan & Cromwell played lead roles in a $1.6 billion deal that saw China’s Ping An Insurance Group buy a 47.7 percent stake in Chinese automobile website Autohome Inc. from Melbourne-based Telstra Corp. Ltd.
The deal will give Autohome access to Ping An Insurance’s 50 million car insurance clients and 150 million financing clients, as well as a large network of car dealerships and factories.
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