SK China Sells China Car Rental Business... Sale Proceeds Invested in Chinese Startups and Others
SK "To Sell Rental Car Business for Asset Efficiency"
SK REITs (SK Entrusted Management Real Estate Investment Company) will enter the KOSPI market next month. On the 18th, the SK Group headquarters located in Jongno-gu, SK Seorin Building. Photo by Moon Honam munonam@
View original image[Asia Economy Reporter Hwang Yoon-joo] SK Group's Chinese holding company, SK China, has sold all its shares in a Chinese rental car company to improve asset efficiency.
According to SK on the 7th, SK China sold 100% of its shares in SK Rent-a-Car to Toyota China last month. The sale price was approximately 50 billion KRW.
This marks SK Group's withdrawal from the Chinese rental car business after 10 years. SK entered the Chinese rental car market in 2011 by acquiring Kumho Rent-a-Car from Kumho Group.
Hot Picks Today
"Now Our Salaries Are 10 Million Won a Month" Record High... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Already Watching Closely..."Target Price Set at 970,000 Won" Only Upward Momentum Remains [Weekend Money]
- "Heading for 2 Million Won": The Company the Securities Industry Says Not to Doubt [Weekend Money]
- Prime Minister Kim Minseok: "Samsung Electronics Strike Could Cost Up to 1 Trillion Won per Day, 100 Trillion Won Total... Tomorrow's Talks Are the Last Chance" (Comprehensive)
- "Chanel Open Run? I Get a Free Pass"... The World of the Top 0.1% That Money Alone Can't Enter [Luxury World]
An SK Group official stated, "There are no plans to downsize our business in China," adding, "We are currently investing in China, including a second battery plant in Yancheng, and the sale of the rental car business is part of asset efficiency efforts to invest in Chinese startups."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
