Jardine Cycle & Carriage (JC&C), the investment arm of Hong Kong-based conglomerate Jardine Matheson, has teamed up with Singapore’s online automotive marketplace Carro in a deal worth more than $60 million to step up used car sales amid new vehicle shortages.
The partnership, announced on Friday, will see JC&C pick up an undisclosed interest in Carro. Carro will in turn receive a stake of equivalent value in Republic Auto, a Singapore-headquartered second-hand car dealer…
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