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Paul, Weiss is representing Didi Chuxing Technology Co., a leading app-based mobile transportation platform, in the carve-out and subsequent $1.5 billion fundraising of its freight business Didi Freight, an on-demand freight logistics and delivery services provider. This matter is expected to be completed in February. Terms of the transaction were not disclosed.

This is a key strategic move for Didi Chuxing, which seeks to diversify away from its core ride-hailing business. In 2020, Paul, Weiss team also advised Didi Chuxing in the $1.2 billion spinoff and fundraising of its bike-sharing business Qingju, also known as Didi Bike.

The Paul, Weiss team includes corporate partner Judie Ng Shortell.