Food delivery giant Meituan has bought out its co-founder Wang Huiwen’s AI venture Light Year, the Hong Kong-listed company announced on Thursday, just four days after Wang resigned from his position on Meituan’s board of directors due to health issues. The deal involves $234 million in cash and approximately $50 million in debt. Meituan will refund the $234 million of financing recently secured by Light Year back to investors and will wholly control the equity of the four-month-old artificial intelligence startup once the buyout is completed, with its financial results to be consolidated with those of the delivery firm. Beijing-based Light Year acquired large language model developer OneFlow in late March and currently employs around 70 staff. [Meituan announcement, in Chinese]