We advised CAR, one of the largest car rental companies in the PRC, on its takeover and delisting from the HKEX

Davis Polk advised CAR Inc. (HKEX: 699) on its privatization by Indigo Glamour Company Limited by way of voluntary general offer and compulsory acquisition, with a total consideration valued at approximately HK$8.5 billion. CAR Inc. announced on Monday of July 5, 2021 that the compulsory acquisition had been completed and the listing of its shares on the Stock Exchange of Hong Kong Limited has been withdrawn with effect from 9:00 a.m. July 8, 2021.

CAR Inc. is one of the largest car rental companies in the PRC, offering car rental and fleet rental services to individual and corporate customers. Indigo Glamour Company Limited is a special purpose vehicle established by MBK Partners, which is one of the largest private equity funds in Asia with over $22 billion of capital under management.

The Davis Polk corporate team includes partner Yang Chu of the Hong Kong office.

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