UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua
UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua
Autos
Business /  Companies

Luckin Coffee co-founder sells stake in Car Inc, China’s largest car rental firm, to BAIC subsidiary for US$180.6 million

  • Ride-hailing services provider UCar, which is controlled by Charles Lu Zhengyao, says it will sell all its shares in Car Inc
  • Jiangxi Jinggangshan BAIC Investment Management is back in the driving seat after SAIC decides against stake acquisition

Topic |   Autos
Iris Ouyang
Iris Ouyang

Updated: 10:39pm, 20 Jul, 2020

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UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua
UCar, which is selling its 20.9 per cent stake, says it will use the proceeds to repay loans secured against the stock, and that it aims to optimise its debt structure. Photo: Xinhua
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