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$DiDi Global (Delisted) (DIDI.US)$ & $Uber Technologies (UBE...
$DiDi Global (Delisted) (DIDI.US)$ & $Uber Technologies (UBER.US)$ deals
“On 1 August 2016, DiDi announced that it would acquire Uber China in an acquisition valuing Uber China at US$35 billion. As part of the deal, Uber acquired 5.89% of the combined Chinese company with preferred equity interest which at the time equated to a 17.7% economic interest in DiDi. The transaction also provided DiDi with a minority equity interest in Uber.”
It was a mutual deal where DIDI paid UBER 35 billion and took over competing (and losing money) Uber-China and UBER invested some of it back into DIDI. In addition DIDI also invested and owns some of UBER equity not sure if it is just shares or some other type of ownership (minority equity means not controlling amount)
“On 1 August 2016, DiDi announced that it would acquire Uber China in an acquisition valuing Uber China at US$35 billion. As part of the deal, Uber acquired 5.89% of the combined Chinese company with preferred equity interest which at the time equated to a 17.7% economic interest in DiDi. The transaction also provided DiDi with a minority equity interest in Uber.”
It was a mutual deal where DIDI paid UBER 35 billion and took over competing (and losing money) Uber-China and UBER invested some of it back into DIDI. In addition DIDI also invested and owns some of UBER equity not sure if it is just shares or some other type of ownership (minority equity means not controlling amount)
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102711703 : Uber lost due to didi investment… Will didi down further? Possible, maybe more towards 8