Autohome Inc. (NYSE:ATHM) sent a non-binding proposal to acquire iCar Asia Limited (ASX:ICQ) for approximately AUD 210 million on October 30, 2020. Under the terms, Autohome will pay AUD 0.5 per shares of iCar. Transaction will be completed by way of a scheme of arrangement.

Transaction is subject to negotiation and signing of transaction documentation, FIRB approval and iCar shareholder and Court approval. iCar has retained Goldman Sachs (Malaysia) Sdn. Bhd.

as financial adviser and Andrew Rich and Michael Ziegelaar of Herbert Smith Freehills as legal adviser to assist it in responding to the Proposal. King & Wood acted as legal advisor to Autohome in the transaction.