China’s state-run CITIC bank is planning an investment of $100 million USD between UberGlobal and UberChina, a source from CITIC bank has told Technode. The same source noted that the current valuation for Uber’s China operations is $7 billion USD.

CITIC-CP Asset Management, the branch of CITIC currently planning the injection, will split the investment between UberChina (20%) and UberGlobal (80%). 

The proposed investment plan also gives UberChina an IPO deadline, stating that if Uber does not IPO its China subsidiary by 2020, the investment would be returned at 8% compounded interest in either UberGlobal shares or cash.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com