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58.com - Court determines reliability of merger price in latest section 238 fair value appraisal judgment Background The judgment Key takeaways
The Grand Court has delivered its judgment in Re 58. com, Inc., a long running and highly contested section 238 fair appraisal dispute in the Cayman Islands. Following a six-week trial before the Honourable Chief Justice Ramsay-Hale in 2024, the Court ultimately rejected the dissenters' contended fair value of $105.56 per American Depository share (ADS) (89 per cent higher than the merger consideration) based on a discounted cash flow (DCF) analysis.
Recognising the Privy Council's decision in Maso Capital Investments Ltd v Trina Solar Ltd (Trina Solar), the Court determined that the merger…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.