Meituan: Plans to acquire Dingdong for $717 million

Meituan Announcement: The company plans to acquire all issued shares of Dingdong, a leading fresh food e-commerce company in Mainland China, for $717 million. According to the agreement, the transferor can extract up to $280 million from the target group, provided that the net cash of the target group remains no less than $150 million. This acquisition will make the target company an indirect wholly-owned subsidiary of Meituan, and its financial performance will be consolidated into Meituan’s financial statements.