Coatue Leads $600M Investment In Combined Didi Dache-Kuaidi

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An investor consortium led by U.S. hedge fund Coatue Management LLC is to acquire a stake in a company that combines two leading Chinese taxi-hailing app makers, Didi Dache and Kuaidi Dache, for approximately US$600 million, according to media reports.

The transaction values the combined company, which announced the merger in February and together takes about 99% of China’s taxi booking app market, at roughly US$8.75 billion.

Coatue Management is to put in about US$250 million, while San Francisco-headquartered investment firm Farallon Capital Management LLC is investing around US$75 million. Unnamed institutional and personal investors are acquiring the rest of the stakes.

China Money Network

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