Recent events
Recent events tied to this brand in public sources.
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2021
神州租车 receives Qingdao Traffic Safety Contribution Award
神州租车 received the 2021 Qingdao Traffic Safety Contribution Award at an event held in Qingdao.
2021
MBK Partners completes full acquisition of CAR Inc.
MBK Partners completed its full acquisition of CAR Inc. on July 5, making CAR Inc. its wholly owned subsidiary. The article also reported that CAR Inc. was scheduled to delist from the Hong Kong Stock Exchange on July 8.
2021
CAR Inc. announces its Hong Kong listing will be withdrawn
CAR Inc. announced that its listing on the Hong Kong Stock Exchange would be withdrawn effective July 8, 2021, at 9:00 a.m.
2021
Indigo Glamour completes compulsory acquisition of CAR Inc.
Indigo Glamour Company Limited completed the compulsory acquisition of CAR Inc.’s remaining offer shares, making CAR Inc. its wholly owned subsidiary and completing CAR Inc.’s privatization.
2021
MBK launches privatization offer for CAR Inc.
MBK Partners launched a conditional voluntary full cash takeover offer for CAR Inc. on the evening of January 31, beginning its privatization offer process; completion was conditional on the offer reaching the required acceptance level.
2020
BAIC investment company agrees to acquire an 8% stake in Car Inc.
Jinggangshan BAIC Investment Management agreed to buy at least 170.7 million shares of Car Inc. from Amber Gem for HK$3.10 per share, totaling HK$529 million, equivalent to approximately 8% of Car Inc.
2020
SAIC subsidiary terminates proposed Shenzhou Rental acquisition
SAIC Group announced that its wholly owned subsidiary, SAIC Hong Kong, had decided to terminate its proposed acquisition of shares in Shenzhou Rental after the transaction parties failed to agree on closing conditions within the planned timeframe.
2020
SAIC subsidiary announces proposed stake acquisition in CAR Inc.
SAIC Motor’s wholly owned subsidiary SAIC Hong Kong proposed to acquire up to approximately 28.9% of CAR Inc. from UCAR and Amber Gem for cash at HK$3.10 per share, for no more than approximately HK$1.9 billion. The acquisition was proposed and had not yet been reported as completed.
2020
SAIC announces proposed investment in Shenzhou Car Rental
SAIC Group announced that its wholly owned subsidiary SAIC Hong Kong planned to buy up to 610 million shares in Shenzhou Car Rental from UCAR and Amber Gem for up to HK$19.02 billion. If completed, SAIC expected to hold 28.92% of Shenzhou Car Rental and become its largest shareholder.
2020
Lu Zhengyao resigns as chairman of Car Inc.
Car Inc. announced that Lu Zhengyao resigned as board chairman and non-executive director, effective June 9, 2020.
2020
Car rental platforms offer long-term rental services
Xiaojü Car Rental, Shenzhou Car Rental and Shouqi Car Rental had introduced long-term car rental services, with Xiaojü allowing customers to order online directly and the other two accepting applications.
2020
BAIC Group plans to acquire up to 21.26% of Car Inc.
Under the strategic cooperation agreement, BAIC Group is to acquire no more than approximately 451 million shares in Car Inc., equivalent to about 21.26% of its issued share capital as of the announcement date. The report describes the acquisition as proposed.
2020
BAIC agrees to acquire a stake in CAR Inc.
BAIC Group agreed to acquire from UCAR up to 450,790,855 shares, representing approximately 21.26% of CAR Inc.'s issued share capital as of the announcement date.
2020
UCAR and Amber Gem terminate share purchase agreement
Amber Gem and UCAR agreed not to proceed with the second tranche of the share purchase under their agreement and terminated that agreement, releasing UCAR from its exclusivity obligation so it could consider other potential transactions.
2020
Amber Gem conditionally agreed to acquire additional CAR Inc. shares
Amber Gem conditionally agreed to acquire additional CAR Inc. shares from a wholly owned subsidiary of UCAR, at HK$3.40 per share, for total consideration of no more than US$115.8 million. The source describes this purchase as conditional, not completed.
2020
Warburg Pincus acquires a 17% stake in CAR Inc.
The headline reports that Warburg Pincus acquired a 17% stake in CAR Inc. and would replace UCAR as its largest shareholder. The source provides no calendar date for the acquisition itself.
2020
Amber Gem agrees to acquire shares in CAR Inc.
Amber Gem and UCAR entered into a share purchase agreement on April 16. Amber Gem agreed to acquire 98.6 million CAR Inc. shares from a wholly owned UCAR subsidiary for HK$2.30 per share; a further purchase of shares was conditional.
2020
Amber Gem acquired a stake in CAR Inc.
Amber Gem acquired 98.6 million CAR Inc. shares from a wholly owned subsidiary of UCAR at HK$2.30 per share. The shares represented approximately 4.65% of CAR Inc.'s issued share capital.
2020
CAR Inc. pauses new-vehicle purchases
CAR Inc. said it would pause purchases of new vehicles. The report links the decision to the company's stated business context of reduced profitability, including lower average daily revenue per vehicle and increased depreciation costs.
2020
Shenzhou Car Rental reports 2019 results
Shenzhou Car Rental released its 2019 results on March 17, reporting rental revenue of RMB 5.56 billion and core car-rental revenue of RMB 4.92 billion.