(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.
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)
