(Yicai Global) June 16 -- Tencent Holdings is eyeing another automobile platform as a group led by the internet giant sent a HKD2.8 billion (USD366.4 million) offer to buy all the remaining shares of Yixin Group.

A consortium formed by Tencent and Hammer Capital Management would pay about HKD1.90 (US 25 cents) per share, the Shanghai-based target firm said in a statement yesterday. That is almost exactly the same as the closing price on June 12. After the transaction, the platform would remain a listed company.

Established in 2014, Yixin became profitable for the first time last year. It made CNY31 million (USD4.4 million) in net profit after logging a loss of CNY167 million in 2018. Its revenue rose by 5 percent to CNY5.8 billion (USD820 million).

The deal is linked to another one. After nine months of negotiations, the Shenzhen-based tech firm on June 12 reached a privatization agreement with Bitauto Holdings, a car information platform started by Nio's founder Li Bin. The Beijing-headquartered company happens to be Yixin's largest shareholder with a 43.7 percent stake. Tencent follows as No. 2.

In the Bitauto deal, Tencent offered USD16 per every American depositary share, resulting in a total of about USD1.1 billion. The transaction is expected to be completed in the second half of this year and thereby, the car review and pricing information platform would delist from the New York Stock Exchange. The Yixin acquisition should take place after this one.

Tencent already has 20.6 percent of Yixin's equity after taking its first stake in 2015. E-commerce giant JD.Com is stockholder No. 3 with a 10.7 percent stake.

Yixin's equity price [HKG: 2858] surpassed the bid price this morning, climbing 4.21 percent to HKD1.98 this afternoon.

Editor: Emmi Laine