Warburg Pincus joins $250m round for China chauffeured car service
Warburg Pincus and Legend Capital are participating alongside Chinese car hire firm China Auto Rental (CAR) in a $250 million investment in Ucar, a China-based chauffeured car service provider.
CAR, which is backed by Warburg Pincus and Legend Holdings and went public in Hong Kong last year, said in a filing that it will subscribe to 2.5 million Series A preferred shares in Ucar for a total consideration...
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