Carzonrent to sell its 'Operating Lease Business' to Sumitomo Mitsui

mints21 · 4th August 2014, 18:24

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.

GTO · 5th August 2014, 12:37

Thread moved from the Assembly Line to the Indian Car Scene. Thanks for sharing!

4th August 2014, 18:24	#1
mints21 BHPian Join Date: Nov 2013 Location: India Posts: 840 Thanked: 1,409 Times	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.
	(6) Thanks

5th August 2014, 12:37	#2
GTO Team-BHP Support Join Date: Feb 2004 Location: Bombay Posts: 70,493 Thanked: 300,292 Times View My Garage	Re: Carzonrent to sell its 'Operating Lease Business' to Sumitomo Mitsui Thread moved from the Assembly Line to the Indian Car Scene. Thanks for sharing!
	() Thanks