SMRT International buys 4m euro stake in automated vehicle maker
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Singapore
SMRT International Pte Ltd and United Technical Services (UTS) will both be acquiring stakes in a Netherlands- based company that designs and manufactures a range of automated vehicles.
In a filing to the Singapore Exchange (SGX) on Thursday, SMRT International said it is acquiring a 20 per cent stake worth 4 million euros (S$6 million) in 2 Getthere Holding BV, while UTS is increasing its holding to 11 per cent against the same valuation. In a joint announcement, the companies said: "These investments are a strategic step that will deepen 2getthere's technological capabilities as a leading market provider of automated vehicle systems. It will also enhance the delivery of current and new projects in the Middle East and Asia-Pacific."
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