Jameson Legal

 

Resource

 

 

 

 

 

 

 

 

 

 

 

Tencent Invests in Zhuan Zhuan

20 Apr 2017

Paul, Weiss represented Tencent, a leading provider of internet value-added services in China, in its $200 million cash investment in Zhuan Zhuan, a China-based used goods trading platform operated by 58.com. Under the agreement, 58.com, China’s largest online marketplace serving local merchants in consumers, will inject the Zhuan Zhuan app and other listing channels into a separate group of entities controlled by it (Zhuan Zhuan Entities), and Tencent will invest $200 million in cash and additional business resources into the Zhuan Zhuan Entities in exchange for a minority equity stake.

The Paul, Weiss team included corporate partners Jeanette Chan, Judie Ng Shortell and Tong Yu.

Matter Type
Fund/Investment Management
Industry
Technology, Media & Telecoms
News Category
M&A
Technology, Media & Telecoms