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Renren Sells Remaining Stake In Nuomi to Baidu

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Renren (NYSE: RENN) announced Thursday that Baidu Holdings Limited, a subsidiary of Baidu,. (NASDAQ: BIDU), Nuomi Holdings and Renren have entered into a definitive agreement, pursuant to which Baidu Holdings Limited will acquire Renren's remaining stake in Nuomi. Subject to the satisfaction or waiver of the closing conditions provided in the definitive agreement, the parties expect to close this acquisition in the first quarter of 2014.

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Posted-In: News Guidance Offerings Asset Sales Management M&A Global

 

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