Daiwa SMBC Capital has agreed to sell Mazda Car Rental Corp. to Park 24 Co. (TSE 4666). Daiwa SMBC Capital, the VC investment arm of Daiwa SMBC group, has several buyout investments in their VC portfolio and acquired Mazda Car Rental in September 2004 with co-investor Sumitomo Mitsui Auto Service from Mazda Motor Corp.
Park 24, a major parking lot operator, will invest JPY 2.07 billion (USD 21 million) to acquire a 98.6% stake in Mazda Car Rental. The company plans to offer car-sharing services through its 8,600 parking lots.
March 25, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment