Brief: Jardine Cycle & Carriage And Carro Enter Into Strategic Partnership

Jardine Cycle & Carriage

16/06/2023 03:50

June 16 (Reuters) - Jardine Cycle & Carriage Ltd
 JCYC.SI :
    * JARDINE CYCLE & CARRIAGE AND CARRO ENTER INTO STRATEGIC
PARTNERSHIP TO SHAPE THE FUTURE OF AUTOMOTIVE RETAILING
    * VALUED AT OVER USD60 MILLION, PARTNERSHIP WILL SEE JC&C
TAKING
INTEREST IN CARRO
    * UNDER THE PARTNERSHIP, JC&C WILL APPOINT A REPRESENTATIVE
TO THE
BOARD OF CARRO
    * UNDER DEAL, CARRO WILL BUY INTEREST WORTH $60 MILLION IN
JC&C’S
USED CAR BUSINESS, REPUBLIC AUTO
    * CO, CARRO TO FORM AFTERSALES JV TO ROLLOUT MULTI-BRAND
AFTERMARKET WORKSHOP BUSINESS WITH INITIAL FOCUS ON SINGAPORE,
MALAYSIA
    * CARRO WILL GAIN ACCESS TO RANGE AND SUPPLY OF USED CARS,
PROVEN
AUTOMOTIVE CAPABILITIES AND ESTABLISHED NETWORKS

Further company coverage:  JCYC.SI 

 ((Reuters.Briefs@thomsonreuters.com;))