58.com (WUBA) approached by Ocean Link Partners Limited

POTENTIAL DEAL DETAILS

58.com Inc. (WUBA), China’s largest online classifieds marketplace, today announced that its Board of Directors has received a preliminary non-binding proposal letter dated Apr 2, 2020 from Ocean Link Partners Limited to acquire all of the outstanding ordinary shares of the Company.

Update(s):

April 20, 2020: 58.com Inc. (WUBA), China’s largest online classifieds marketplace, today announced that its Board of Directors has formed a special committee consisting of two independent directors, Mr. Robert Frank Dodds Jr. and Ms. Lily Li Dong, to evaluate and consider the previously announced preliminary non-binding acquisition proposal letter dated April 2, 2020 or any alternative strategic option that the Company may pursue.

June 15, 2020: An investor group backed by Warburg Pincus and General Atlantic agreed to take 58.com Inc. (WUBA) private in a deal valuing China’s biggest online classifieds firm at about $8.7 billion

June 15, 2020: 58.com Inc. (WUBA), China’s largest online classifieds marketplace, today announced that it has entered into a definitive Agreement and Plan of Merger with Quantum Bloom Group Ltd.

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