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Jardine Strategic to invest in China car distributor

It'll pay US$731m for 20% Zhongsheng stake, making it one of top 3 shareholders

JARDINE Strategic Holdings Ltd has agreed to invest US$731 million to buy a 20 per cent stake in Hong Kong-listed Zhongsheng Group Holdings Ltd, a distributor of Volkswagen, Porsche, Mercedes Benz and Audi cars in China. The 83 per cent-held unit of Jardine Matheson created a buzz in Hong Kong