Skadden, Arps, Slate, Meagher & Flom and Simpson Thacher & Bartlett have advised on a $6 billion merger of Chinese taxi-hailing mobile applications Didi Dache and Kuaidi Dache.
The merger creates China’s largest mobile platform for local transportation by users, bringing the companies together after a bitter yearlong price war for customers. Didi and Kuaidi will continue to operate under separate brands, however, with Didi CEO Wei Cheng and Kuaidi CEO Dexter Chuanwei Lu serving as co-CEOs of the newly combined venture.
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