Bitauto will retain a 47% equity stake in Yixin Capital and will have a majority of voting power at the board upon closings.
Yixin Capital, a China-based online automotive financing subsidiary of automotive retail services provider Bitauto, has raised $550m from a consortium including its parent company and local corporations Tencent, Baidu and JD.com.
Automotive retail services provider Bitauto will hold an equity stake in Yixin Capital sized at approximately 47% on a fully diluted basis and will have control over the company with majority of voting power at the board upon closings.
In June this year, China-based, publicly listed Bitauto raised $300m…
