The Zhitong Finance App learned that on April 10, EHIC.US (EHIC.US) announced that it had completed and T.Eamsport Bidco, Teamsport ParentA merger and acquisition deal between. After the transaction is completed, Yihi Rent-A-Car will cease to be a listed company and become a wholly-owned subsidiary of Teamsport Parent.

According to the merger agreement, Yihi Rent-A-Car will receive 6.125 US dollars in cash for each Class A and B common stock. When the merger was completed, all of Yihi Rent-A-Car's American Depositary Shares (hereinafter referred to as “ADS”) were cancelled. Yihi Rent-A-Car has applied for its ADS to be suspended on the New York Stock Exchange. Yihi Rent-A-Car also requires the New York Stock Exchange to submit relevant documents to the US Securities and Exchange Commission to report its ADS delisting.

The Zhitong App learned that on April 6, 2018, Yihi Rent-A-Car announced that it had reached a merger and acquisition agreement with Teamsport Parent Limited. The latter would buy Yihi Rent-A-Car with $6.75 per common share in cash. In February 2019, Yihi Rent-A-Car announced that it had reached a new privatization agreement with Teamsport Parent Limited and its wholly-owned subsidiary Teamsport Bidco Limited. The adjusted privatization price was reduced by nearly 10%.

According to data, Yihi Car Rental was founded in January 2006 and is the first car rental company in China to achieve full e-commerce management. The company is headquartered in Shanghai and has opened more than 4,000 service outlets in more than 300 cities across the country, providing more than 200 models, covering the whole country.