China Renaissance Advises Dianping and Meituan on Historic Strategic Cooperation

Serves as Exclusive Financial Advisor to Both Companies

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Oct 08, 2015, 04:54 ET

HONG KONG, Oct. 8, 2015 /PRNewswire/ -- China Renaissance today announced that it served as exclusive financial advisor to two long-time clients, Dianping and Meituan, as they completed a strategic cooperation through which both companies have jointly set up a new company that is expected to run the leading "online to offline," or O2O, platform in China. This historic strategic cooperation constitutes the largest transaction in China's internet industry to date. It is also the second time in 2015 that China Renaissance has advised both sides in a transaction, following the Didi Kuaidi merger in February. This underscores the firm's strength in working with high-growth companies in China's information technology sector.

The current transaction builds on the relationship that China Renaissance has been developing with both companies. Prior to this, China Renaissance acted as the exclusive financial advisor in several rounds of fundraising for Dianping and Meituan.

Together with the 58.com/Ganji transaction where China Renaissance acted as exclusive advisor to Ganji, it has been involved in all of the three major strategic transactions in the China internet space this year. In recent years, China Renaissance has executed many strategic and influential transactions in China's "new economy," including Youku's acquisition of Tudou, Baidu's acquisition of the online video business of leading Internet video provider PPS, and Tencent's partnership with JD.com.

Fan Bao, CEO of China Renaissance, said, "We are proud to be part of this landmark strategic cooperation between two of the strongest players in China's technology sector, and we believe this will foster the continued development of the industry. This cooperation builds on the respective advantages of both Dianping and Meituan, minimizing overlapping investments and maximizing the growth opportunities for both entities. We believe this will create a new innovative force in the industry."

About China Renaissance

China Renaissance is a leading independent investment bank serving the financing needs of China's "new economy" entrepreneurs, those creating business models powered by the Internet and information technology. The firm's services include private fund-raisings, public offerings, mergers and acquisitions, sales and trading execution and equity research across a broad range of sectors, with a particular specialization in TMT, education, healthcare and consumer products.

Since its inception in 2004, China Renaissance has become the number one private placement advisor to China's entrepreneurs. ChinaVenture named the firm "The Best Boutique Investment Bank" in nine consecutive years from 2006-2014. China Renaissance is headquartered in Beijing and has offices in Shanghai, Hong Kong and New York. For more information, please visit http://www.huaxing.com.

SOURCE China Renaissance