Carey Olsen advises in app sale

Posted: 15/03/2018

Lawyers from Carey Olsen's corporate and finance practice in the Cayman Islands have advised Brazilian ride-sharing application 99 on its sale to Chinese ride-sharing, artificial intelligence and technology conglomerate Didi Chuxing.
 
The deal, which values 99 at more than US$1bn, comes a year after Didi secured a minority stake in the company after investing US$100 million in 99's last round of financing. 

The Carey Olsen team advising 99 on the Cayman aspects of the acquisition was led by Partner Alistair Russell, assisted by Associate Robert Coombes.

99 has been a client of Carey Olsen since its days as a technology start-up in 2013. Didi's acquisition of 99 is part of its efforts to expand beyond China.


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