24.06.2015 13:37:32

EHi Car Services Sells 100% Equity In Elite Plus To Eagle Legend For $160.9 Mln

(RTTNews) - Chinese car rentals provider eHi Car Services Ltd. (EHIC) announced it has transferred 100 percent equity interest in its wholly owned subsidiary Elite Plus Developments Ltd. to Eagle Legend Global Ltd. for gross proceeds of $160.9 million. The deal was agreed upon on June 2, 2015

The net proceeds received from this deal will be used to further expand eHi's car rental and car services fleets and to fund eHi's operations across China.

Elite Plus currently also holds a stake in Xiaoju Kuaizhi, Inc., which the Company invested in April 2014 at a consideration of about $25 million.

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