DLA Piper advises Yun Chen Capital Cayman on USD1.8 billion sale of Autohome shares to Haier Group subsidiary

DLA Piper has advised Yun Chen Capital Cayman (Yun Chen), a subsidiary of Ping An, on the sale of approximately 41.91% of the ordinary shares of Autohome Inc. (Autohome) for approximately USD1.8 billion from Cartech Holding company, a subsidiary of Haier Group.

Autohome, a leading online destination for automobile consumers in China, is dual listed on the Hong Kong Stock Exchange (2518.HK) and the New York Stock Exchange (NYSE: ATHM). Its mission is to reduce auto industry decision-making and transaction costs through advanced technology. Autohome offers a comprehensive automobile library and extensive listing information, covering the entire car purchase and ownership cycle, with content generated by professionals, users, and AI.

Corporate partner James Chang (Beijing) co-led the transaction with Roy Chan (Shanghai), Senior Partner, Asia and Co-Country Managing Partner, China.

James Chang said: “With our Beijing, Shanghai and US offices boasting extensive experience and knowledge in facilitating cross-border deals involving public companies listed across multiple jurisdictions, the successful execution of this major transaction underscores our commitment to delivering top-tier legal counsel to the world’s most successful enterprises.”

James and Roy were supported on the mergers and acquisitions aspect of the transaction by Wenhong You (senior associate) and Hao Guo and Zhiyuan Wu (both consultants), and with Sophia Sun and Jenny Wang (associates) from Shanghai Kaiman Law Firm. Also advising on this transaction in Asia was Vivian Liu (partner and Head of Capital Markets Compliance, Greater China), Windson Li (Head of Tax, Asia) and Ivy Zou (consultant, Corporate). Advising on U.S. securities laws was Andrew Ledbetter (partner) and Bianca LaCaille (associate), from DLA Piper’s Corporate group, based in the U.S.