A “win-win” transaction in the field of travel.
Editor’s note: This article is from the WeChat public account “Zinc Finance” (ID: xincaijing).
Author | Zhou Xiongfei
Edit | Gale
This “selling” about car rental in China for more than 4 months has finally come to an end.
On the evening of July 20, UCAR issued an announcement stating that it would transfer its shares in China Rent-A-Car to Jiangxi Jinggangshan BAIC Investment Management Co., Ltd. (hereinafter referred to as BAIC) and its designated third parties at a price of 3.1 Hong Kong dollars per share. 443 million shares.
UCAR Announces BAIC’s Acquisition of Shenzhou Car Rental Matters Picture Source Network
Car rental in Shenzhou was once regarded by Lu Zhengyao as an important cornerstone of the travel business, but after his removal as chairman, he became an “abandoned son” he was eager to cash in. What he might not have thought of is that such a “discarded son” has become the “sweet pastry” that SAIC and BAIC are competing for.
Just a few hours before the boots landed, the game between BAIC and SAIC on car rental in China continued, and some netizens even said that it was like watching a series.
SAIC first announced the termination of the acquisition of shares in China Auto. Almost at the same time, BAIC Group announced that it would restart its plan to acquire shares in China Rent-A-Car. As the “participant” China Rent-A-Car issued a statement saying that it had suspended trading after calming down the sorrow and joy. ; Immediately afterwards, SAIC made an official explanation on the termination of the acquisition, and finally UCAR as the shareholder, officially announced that BAIC’s acquisition of Shenzhou Auto.
So far, after going around for four months, Shenzhou Rent-a-Car was eventually managed by BAIC. It now appears that this transaction is a win-win for both BAIC and China Rent-A-Car.