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58.com Purchases B2B Online Used Car Auction Business from Uxin for USD 105m
Thursday 26 March 2020

26 March 2020 - Chinese online classifieds marketplace company 58.com Inc. (NYSE: WUBA) has agreed to purchase certain assets and liabilities related to the online used car auction business of Uxin Ltd. for a total cash consideration of USD 105m, the company said.
The transactions are currently expected to close by the first half of 2020.
58.com said the purchase of Uxin's B2B used car auction platform marks a step in the rollout of the company's new all in service strategy.
With the addition of Uxin's B2B auction platform, 58.com said it can expand the options it offers dealers.
58.com Inc. (NYSE: WUBA) online marketplace enables local business users and consumer users to connect, share information and conduct business.
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Date Published: 26/03/2020

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