OREANDA-NEWS.  January 29, 2014. Jardine Strategic Holdings Limited announced that it has agreed to invest USD731 million in Hong Kong-listed Zhongsheng Group Holdings Limited (‘Zhongsheng’) through an equity stake and convertible bonds.

Zhongsheng is one of mainland China’s leading motor dealership groups operating over 170 outlets in over 60 cities across 15 provinces and regions. The company carries over 15 major marques, including Mercedes-Benz, Audi, Lexus, Porsche, Jaguar and Land Rover in the luxury segment and Toyota, Nissan and Volkswagen in the mid-to-high-end segment.

Commenting on the investment, Jardine Strategic Director, Mr Adam Keswick, said, “Zhongsheng is one of China’s premier motor dealership groups representing many internationally renowned marques. This long-term strategic investment provides us with a greater exposure to the Mainland market in a sector we understand well and in which we feel Zhongsheng has the potential for substantial growth. We look forward to developing our relationship with the management of Zhongsheng and supporting the group’s continued expansion in mainland China.”

Mr Huang Yi, Chairman of Zhongsheng said, “The combination of Zhongsheng’s strong presence in the China motor dealership market, coupled with Jardines’ in-depth experience in the sector across Asia and its long-term vision, represents a powerful partnership. We are very excited by the opportunities that it will create.”