TuanChe (TC) Announces Receipt of Preliminary Non-Binding Going Private Proposal

  • January 21, 2021

POTENTIAL DEAL DETAILS

Stock TuanChe Limited Symbol TC
Date Announced 01/21/2021 Source Press Release
Type Unsolicited Bid Acquiring Company/Person chairman and CEO, Mr. Wei Wen

TuanChe Limited (TC), a leading omni-channel automotive marketplace in China, today announced that its board of directors has received a preliminary non-binding proposal letter dated January 21, 2021 from its chairman and chief executive officer, Mr. Wei Wen, proposing to acquire all of the outstanding ordinary shares of the Company, including Shares represented by American depositary shares , that are not already owned by Mr. Wen for a purchase price of US$4.25 per ADS in cash in a going private transaction.

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