BRIEF-Jardine Cycle & Carriage And Carro Enter Into Strategic Partnership
June 16 (Reuters) - Jardine Cycle & Carriage Ltd :
* 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: