China Auto Rental Secures US$200 Million Investment by Warburg Pincus (Asia)
Source: Warburg Pincus
Global private equity firm Warburg Pincus will invest US$200 million in Beijing-based China Auto Rental, a car rental service with 600 locations covering 66 cities and 52 airports across China. Warburg Pincus will partner with Legend Capital, which invested RMB1 billion (US$157 million) in China Auto Rental in August 2010, to provide branding, funding and corporate governance support to company management. China Auto Rental plans to continue expanding its national network and enhance its brand and product offerings.