Clifford Chance, King & Wood Mallesons, DLA Piper and Zhong Lun Law Firm have facilitated the completion of CARtech’s USD1.8 billion acquisition of a 43% stake in Autohome, a digital automobile information platform.
Chinese car trading platform CARtech, a subsidiary of home appliance giant Haier Group, is now the controlling shareholder of Autohome. While the seller, Yun Chen Capital, a subsidiary of Ping An Insurance Group, retains a 5.1% stake.
Clifford Chance partner Bai Yong and foreign legal counsel Man Dayu advised Haier on US and Hong Kong law, handling global antitrust filings. King & Wood Mallesons partners Li Qiang and Chai Zhifeng acted as CARtech’s PRC legal counsel, advising on antitrust filings in China.
DLA Piper counselled Yun Chen Capital, with the team led by the co-country managing partner in China, Roy Chan, and partner James Chang. Zhong Lun counselled on PRC law, with the lead partners Wen Ye and Meng Wenxiang handling outbound direct investment procedures.
CARtech operates a second-hand car trading digital business, which also offers automotive customisation and modification services.
Autohome, a well-known automotive digital platform in China, provides information related to car selection, purchase and usage. Li Xiang, CEO of Li Auto, founded Autohome in 2005.
