Investment in Automotive Operational Renting and Rent-a-Car business in Colombia
June 20, 2019
Ïã½¶ÊÓÆµ (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter ¡°Ïã½¶ÊÓÆµ¡±) announced today that it had agreed to underwrite shares issued by Equirent Vehiculos y Maquinaria S.A.S (hereinafter ¡°Equirent¡±), which is engaged in Operational Renting and Rent-a-Car. Equirent (headquartered in Bogota, Colombia; Ernesto Sarria, General Manager) is the oldest Renting company and one of the biggest fleet management operators in Colombia. Ïã½¶ÊÓÆµ had held a 25% stake in Equirent.
Given the diversifying customer demand and trends, and developing purchasing channels, business environment is dramatically changing at an unprecedented pace. In particular, the automotive industry is undergoing a major structural change with the progress of CASE technologies. (Connected, Autonomous, Shared & Service and Electric Vehicles).
Since 1960, Ïã½¶ÊÓÆµ has been expanding its Automotive business globally by operating in the businesses of international trade of vehicles, wholesale and retail distribution of automobiles, and car financing. Ïã½¶ÊÓÆµ is aiming to respond to these market changes by participating in Equirent¡¯s Operating Renting and Rent-a-Car businesses, which are closer to customer needs and more compatible to next-generation mobility related technologies.
In addition, Equirent has achieved great growth by providing high value-added services that meet customer demands since its foundation in 1993, making it one of the leading companies in the industry. Seissa, Equirent¡¯s parent company, has built strong relationship with Ïã½¶ÊÓÆµ for nearly half a century.
Now, with this capital increase by Ïã½¶ÊÓÆµ, which develops a wide range of businesses globally, Equirent will accelerate the enlargement of existing operations, the development of next-generation businesses, and the expansion in the region .
Equirent Veh¨ªculos y Maquinaria S.A.S.
Company name | Equirent Veh¨ªculos y Maquinaria S.A.S. |
---|---|
Establishment | 2019 (Foundation : 1993) |
Location of head office | Bogota, Colombia |
Representative | Ernest Sarria |
Business field | Operating Renting and Rent-A-Car business |