Meituan: Intends to acquire Ding Dong for $717 million.

Meituan announcement, the company intends to acquire all of the issued shares of Dingdong, a leading fresh food e-commerce enterprise in mainland China, for 717 million US dollars. According to the agreement, the transferor can withdraw up to 280 million US dollars from the target group, but must ensure that the target group's net cash is not less than 150 million US dollars. 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.