Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited (SEHK:136) agreed to acquire 30% stake in Beijing Yonghang Technology Company Limited from Tencent Holdings Limited (SEHK:700), Tencent Digital (Shenzhen) Limited, Tencent Mobility Limited and Tibet Yonghang Enterprise Management Partnership for CNY 825 million on January 13, 2025. A cash consideration of CNY 742.5 million will be paid by Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited. The consideration consists of 36.67 million common equity of Beijing Ruyi Jingxiu Network Technology Co., Ltd and China Ruyi Holdings Limited to be issued for common equity of Beijing Yonghang Technology Company Limited.
As part of consideration, CNY 742.5 million is paid towards common equity of Beijing Yonghang Technology Company Limited. The transaction is subject to approval of offer by acquirer shareholders, approval of offer by target shareholders and consummation of due diligence investigation. Maxa Capital Limited acted as financial advisor for China Ruyi Holdings Limited.