Haier Group, through Cartech Holding Company, has acquired a 43% stake in AutoHome for approximately $1.8 billion, marking a significant strategic investment aimed at enhancing its automotive service ecosystem.
Information on the Target
Cartech Holding Company, a subsidiary of Haier Group, has successfully completed a strategic acquisition of a 43% stake in AutoHome (stock code: ATHM.N / 2518.HK) from Yun Chen Capital, part of China Ping An. The total transaction value amounts to approximately $1.8 billion. This acquisition has positioned Cartech as the controlling shareholder of AutoHome, thereby integrating the latter into Haier's automotive ecosystem.
AutoHome is recognized as a leading online service platform for automotive consumers in China. It aims to utilize technology to continuously reduce decision-making and transaction costs in the automobile industry, providing a comprehensive resource of automotive experiences and information throughout the car buying and usage lifecycle.
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Industry Overview in China
The automotive industry in China is witnessing rapid evolution, characterized by a fierce competition among manufacturers and a growing emphasis on digital transformation. Electric vehicles (EVs) and smart technologies are reshaping the landsca
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Disclosed details
Transaction Size: $1,800M