Kuaidi Dache Enters Strategic Merger with Didi Dache
02.17.15
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Simpson Thacher represented Kuaidi Dache in its strategic stock-for-stock merger with Didi Dache. Kuaidi Dache and Didi Dache are two of China's leading taxi apps. The combined company is poised to become China's largest local transportation mobile platform and one of the world's leading local transportation mobile platforms based on the size of user base. Mr. Wei Cheng, CEO of Didi Dache, and Mr. Dexter Chuanwei Lu, CEO of Kuaidi Dache, will be Co-CEOs of the combined company. The combined company expects to conduct the businesses of Kuaidi Dache and Didi Dache independently under separate brands.
The Simpson Thacher team for the transaction includes Katie Sudol, Wei Li and Matthew Schwartz (M&A – Hong Kong); Yang Wang and Qi Yue (M&A – Beijing); Judy Yan (Tax); and Tristan Brown and Thomas Asmar (ECEB).