Valued at over US$60 million, the partnership will see Jardine C&C taking an interest in Carro. The latter will also acquire an interest of equivalent value in Jardine C&C’s used car subsidiary Republic Auto — one of the largest used car dealers in Singapore.
Jardine Cycle & Carriage (Jardine C&C) (SGX:C07
) has entered into a strategic partnership with used car marketplace Carro to jointly explore opportunities in the used car and aftersales segment of automotive retailing.
The partnership will enable the two parties to collaborate on a wide range of platform and data initiatives across the used car and aftersales value chains that will materially improve upstream efficiencies and enlarge downstream markets.
