We are advising Meituan on the transaction

Davis Polk is advising Meituan on its acquisition of all issued and outstanding shares of Dingdong Fresh Holding Limited, Dingdong (Cayman) Limited’s wholly owned subsidiary that holds substantially all of its operations in China. The transaction consideration is $717 million in cash, subject to adjustments based on net cash, net working capital and other financial line items. The consummation of the transaction is subject to the satisfaction of customary closing conditions, including receipt of antitrust and other required regulatory approvals.

Meituan is a tech-driven retail company which offers diversified daily goods and services in the broader retail by leveraging technology, including food delivery, in-store, hotel and travel booking, and other services and sales.

Dingdong is a leading fresh grocery e-commerce company in mainland China, providing users and households with fresh groceries, prepared food and other food products through a convenient and excellent shopping experience supported by an extensive self-operated frontline fulfillment grid.

The Davis Polk corporate team includes partners Li He, Jason Xu and Lijun (Annie) Yan and counsel – registered foreign lawyers Jie Zhang and Yue (Jenny) Yin. Members of the Davis Polk team are based in the Hong Kong and Beijing offices.

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