A group of U.S. firms, including Skadden, Arps, Slate, Meagher & Flom, Weil, Gotshal & Manges and Kirkland & Ellis, are advising on a take-private deal of China’s 58.com Inc. valued at $8.7 billion.
As part of the deal, an investor consortium backed by private equity firms Warburg Pincus, General Atlantic and Ocean Link, and 58.com chairman Yao Jinbo, will buy out independent shareholders of the New York Stock Exchange-listed company at $56 per American depositary shares, a nearly 20% premium to its closing price on the last trading day before receiving the take-private offer.
