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Old 4th August 2014, 18:24   #1
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Default Carzonrent to sell its 'Operating Lease Business' to Sumitomo Mitsui

Carzonrent (India) Private Limited has entered into an agreement for the sale and transfer of its operating lease business with M/s. Sumitomo Mitsui Auto Service Co. Ltd (SMAS)of Japan for an undisclosed amount.

It is learnt that Carzonrent (India) Private Limited has already sent letters to its existing customers seeking their consent for unconditional and irrevocable sale and transfer of their business to SMAS. It has also issued forms to the existing clients to transfer the cars to SMAS.

SMAS in India will be known as SMAS Auto Leasing India Private Limited. SMAI will be a joint venture between Sumitomo Mitsui Auto Service (Investment ratio 60%) and Sumitomo Corporation (40%).

SMAS manages 5,60,000 vehicles as a globally consolidated group and was established in the year 1981. As of march 2014 it employees 1464 employees with its head quarters in Tokyo, Japan.
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Old 5th August 2014, 12:37   #2
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Default Re: Carzonrent to sell its 'Operating Lease Business' to Sumitomo Mitsui

Thread moved from the Assembly Line (The "Assembly Line" Forum section) to the Indian Car Scene. Thanks for sharing!
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