Is Guou Investment really capable of acquiring 58 cities?

Editor’s note: This article is from WeChat public account “Forty Forty Capitals” (ID: DsstCapital) author: Chai good news.

In the evening of April 2, 2020, multiple media reported that the 58 city board announced that it had received a non-binding takeover offer from Ocean Link Partners Limited, with a class A or B share per share. Common stock of $ 27.50 in cash, or $ 55 / ADS offer to acquire all of the company’s outstanding common stock.

On April 3, 2020, 58 Tongcheng confirmed the news to CIC and pointed out that the acquisition plan was the second one that had previously burst out, that is, all the common shares in the company were acquired at a price of $ 55 / ADS, ” The board of directors of the same city said that the offer will be evaluated as soon as possible.

TouZhong.com contacted Ouyu Investment, which said it was “inconvenient to speak.”

Affected by this information, the share price of 58 cities rose 12.98%, and the intraday increase was as high as 15.74%. As of the close of April 2, the value of 58 cities was 7.895 billion US dollars (about 55.9 billion yuan).

According to the closing price on April 2, Gull’s investment of $ 55 / acquisition of American depositary shares means a premium of 4.24%, that is, the total transaction amount will exceed $ 8 billion (about 56.7 billion yuan).

Investment.com understands that the core team of Ouyang Investment is composed of Jiang Tianyi, Zheng Nanyan, Liang Jianzhang, and Zhang Chi, who play an important role in the tourism industry and investment circle. It is called “Dream Team”. At the same time, Guou Investment has a close relationship with Ctrip, and almost all of the investment and financing involved are based on Ctrip’s tourism business.

This close relationship has led many people in the industry to promote Lenovo’s intention acquisition and Ctrip behind the scenes. However, judging from the available data, it is not yet certain what role Ctrip will play in it.

Questions are repeated one after another: “Is Gull really capable of acquiring?”

In the four years since its establishment, the PE institution, which focuses on tourism and life investment, has always kept a low profile and has not disclosed much information.

In the first half of 2016, Jiang Tian, ​​who has many years of rich experience in tourism investment, met Zheng Nanyan, who has been cultivating tourism for many years.

It is understood that Jiang Tianyi was a director of Carlyle Investment Asia Fund, and has invested in Kaiyuan Hotel, Orange Crystal, and Platinum Group, etc .; Zheng Nanyan was the founder of Platinum Group.

In August 2016, with the addition of Liang Jianzhang and Zhang Chi, Ouyang invested in the luxury lineup “Dream Team”. Zheng Nanyan was once a competent officer of Liang Jianzhang, Jiang Tianyi and Zhang Chi