Alibaba offers to buy rest of AutoNavi

Nieuws Breedband China 10 FEB 2014
Alibaba offers to buy rest of AutoNavi
Chinese internet group Alibaba has offered to buy the rest of AutoNavi, a digital maps and location-based services developer. Alibaba offered to buy all the shares it does not yet own for USD 21 per American depositary share, each representing four ordinary shares. Alibaba already owns 28 percent of the company. AutoNavi said Alibaba is able to pay for the deal with cash on hand, removing any need for external financing. AutoNavi will set up a committee of independent directors to consider the proposal to take the company private. 

Categories:

Internet

Companies:

Alibaba,  AutoNavi

Countries:

China

Tags:

Location Based Services, M&A buyouts & divestments

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