SPH selling sgCarMart to Toyota consortium for S$150 million
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ONLINE automotive marketplace sgCarMart, owned by Singapore Press Holdings (SPH), is being sold to a Toyota consortium in an all-cash deal, confirming an earlier report by The Business Times.
The proposed transaction values sgCarMart at S$150 million, SPH and Toyota Financial Services Singapore said in a joint press release on Friday evening (Feb 25).
The consortium is led by Toyota Financial Services Singapore, which owns 76 per cent of the consortium, with the remaining 24 per cent owned by Toyota Tsusho Asia Pacific and Phillip Binter.
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