By P.R. Venkat

A consortium of Chinese internet giant Tencent Holdings Ltd. has made an offer to buy shares of they don't already own in Yixin Group Ltd. valuing the company at 12.17 billion Hong Kong dollars (US$1.58 billion).

The consortium that includes Hammer Capital Offerco Ltd. has offered to pay HK$1.9088 for each share of the online financed automobile company, Yixin said late Monday.

JD.com. Inc. which is also a shareholder in Yixin has provided irrevocable undertaking in support of the deal.

The consortium that is making the offer already owns 77% stake of Yixin. 



  Write to P.R. Venkat at venkat.pr@wsj.com