58.com - Court determines reliability of merger price in latest section 238 fair value appraisal judgment

Listen on

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.