Pacer and Car

uxin: Under the transaction, Uxin will divest its loan facilitation related business to Golden Pacer in exchange for an aggregate of 100 million dollars and a certain number of shares of Golden Pacer, according to a company statement on Friday, according to Global Times China. More specifically, Golden Pacer will help facilitate loans for Uxin's online used car transactions, including providing a guarantee in the event of default, while Uxin will assist in inspecting and valuating Golden Pacer's used car financing transactions. As of midday Friday, the company has been valued at over 789 million dollars in market capitalization. After the divestiture and through the business cooperation with Golden Pacer, we will be able to focus all of our resources on online used car transactions, said Kun Dai, founder, chairman and CEO of Uxin, in the statement. The two companies expect to enter into definitive transaction agreements and close the transaction as soon as practicable in the second half of 2019. Dai also stressed the tremendous growth potential of China's used car market, adding that the company's cross-regional transaction services have made online purchase of second-hand vehicles a reality. (news.financializer.com). As reported in the news.