Bitauto Forms Strategic Partnership With and Tencent

Skadden represented Bitauto Holdings Ltd. in the investment by, Inc. and Tencent Holdings Limited of approximately $1.3 billion in Bitauto and $250 million in YiXin Capital Ltd., a Bitauto subsidiary, announced January 9. Upon completion of the transactions, the three companies will form a strategic partnership to provide enhanced online automotive transaction services to car buyers across China.