Tencent-led investor group to take China's Bitauto private for $1.1b

Visual from company website

Chinese car comparison website Bitauto Holdings Ltd on Friday agreed to be taken private by an investor group backed by gaming and social media firm Tencent Holdings Ltd for $1.1 billion in cash.

As per the deal, Bitauto shareholders will receive $16 per share, representing a premium of nearly 12% to its closing price on Thursday.

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