 58.com Inc. NYSE: WUBA 58.com or the Company, Chinas largest online classifieds marketplace, today announced that Zhuan Zhuan, an online used goods trading platform and a consolidated subsidiary of 58.com, has entered into definitive agreements to acquire 100 equity interest in Shenzhen Wanshifu Technology Co., Ltd. Shenzhen Wanshifu Technology with a combination of cash in the amount of RMB360 million and newly issued Zhuan Spirit Holdings Limited shares, Zhuan Zhuans ultimate holding company. Shenzhen Wanshifu Technology operates the Zhaoliangji app which translates into find nice phone, an online platform for used mobile phones and accessories in China. The transactions contemplated under the definitive agreements are subject to customary closing conditions, and are currently expected to close in the coming months. If the transaction were to close pursuant to the terms in the definitive agreements, the Companys equity interest in Zhuan Spirit Holdings Limited would be diluted from 54.6 to less than 50 on fully diluted basis. 58.com is assessing the accounting impact of the proposed transactions, if closed. 