Monday , November 23 2020

Didi has attempted to acquire the $ 2 billion theo file. Ali has no vote for veto – IT & Transport – cnBeta.COM



In light of the user's refund of the deposit, the founder who entered the Lao Lai list had the opportunity to save.According to company information, Didi is ready to buy a $ 500m. Of the company F-share in August this year with a value of DKK 2 billion. USD. Didi also has the right to purchase Ofo's Class F shares for an additional $ 500 million in the same valuation for 18 months.

When buying opo, the drop a veto does not allow reaching any alliance with Didi & # 39; s competitors, or ofo selling more preferred shares to any competitor of Didi. .

There are a total of 5 seats on the table of the design of the company design, where Didi will occupy 2 seats, 1 place is owned by the management, and the remaining 2 seats are given to other investors of theo.

In addition, Didi also requires that the appointment, replacement or dismissal of oso's key positions, including the CEO, CFO, COO, CTO and HR, be determined by Didi.

In the course of Ali's intention to merge his Harrow bike with OFO, and also filed several buying intentions for Ofo, Didi used a veto to block the transaction.

Ali has no right to veto

After Dai Wei became "Lao Lai," Tencent CEO Ma Huateng said in a circle of friends that this is a veto right (veto right) problem, but many point to Didi and Ali.

But at the moment Ali has no veto for the following reasons:

At the beginning of this year, Ali became a shareholder, and for investor who insisted on the merger between Mobai and Ofo and Jinshajiang's partner Zhu Xiaohu, it would be dangerous to continue and hope to resign.

Ali saw Zhu Xiaohu's attitude and had another veto. He wanted to buy his shares and a veto.

However, Ali-related people said that Ali did not get all the shares in Zhu Xiaohu, and Didi used a veto to buy some of them. That is why Ali did not get the so-called one-voice veto.

This makes Dawei exercise voting rights on behalf of the management in the current one-voice veto architecture.

Didi and Jingwei also have a veto. But Jingwei is a financial investor and in principle does not use a veto with a vote. The main point is Didi and Dawei. But the loss of Didi and Dai Wei made theo the crisis.

From the drops to the takeover documents, too is very weak compared to Didi.

In fact, the relationship between the two sides has already been weak. Initially, Fu Qiang was the CEO of ofo, but in just 4 months, Dai Wei immediately got Fu Qiang out of it.

With departure from Fu Qiang, there are many old ministers who have been stationed in the company. Therefore, the relationship between the two parties has been arrogant. Since then, the bike label "Green Orange Bicycle" has been launched and Xiaolan Bicycle's operation is acquired directly competing with ofo.

In the drop top takeover plan, Didi also prepares to help Theo introduce Softbank investments, the amount of more than $ 200 million, but the premise of coverage is to provide aso as much as possible.

Rumor has it that Softbank's team has lived in a hotel in Zhongguancun for several months, conducted due diligence onofo and decided to invest, but under the various fancy interferences, Softbank Sun Justice did not sign.

Didi has always emphasized the outside world that it has never prevented the financing ofo, but actually Dai Wei and Didi use each other in a situation where they are not pleasing to each other, so Theo loses the opportunity.

According to informed sources, with the rapid deterioration of theo for half a year, the user revoked the deposit, Dai Wei entered the list of Lao Lai, Didi and Ali lost interest in the acquisition of ofo, and today's ofo faces a dying battle .

Mobai and ofo are all in sight in 2017

Both Moby and ofo were in full swing in 2017, but the industry boom pushed the two founders into the history of history. As the industry calms down, Hu Wei and Dai Wei are now out of the scene.

Just today, Mobye announced that Mobai & # 39; s founder, Hu Wei, became CEO and was replaced by President Liu Wei. A trader insider pointed out that sharing bicycles is finally a game for industry giants.


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