CORRECTED-Alibaba offers to take AutoNavi private

Mon Feb 10, 2014 10:50am EST

(Corrects paragraph 2 to say deal value is $1.58 billion, not $1.45 billion)

Feb 10 (Reuters) - Chinese digital mapping and navigation firm AutoNavi Holdings Ltd said it had received an offer to be taken private by major shareholder Alibaba Group Holding Ltd IPO-ALIB.N.

Alibaba has offered to buy the 72 percent of AutoNavi that it does not already own for $21 per American depository share, valuing the company at $1.58 billion.

The offer represents a premium of 27 percent to AutoNavi's Friday close of $16.54 on the Nasdaq. (Reporting By Sampad Patnaik in Bangalore; Editing by Saumyadeb Chakrabarty)

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