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在线翻译:
szdaily -> Business_Markets
Didi Chuxing takes control of Brazil’s 99
    2018-January-5  08:53    Shenzhen Daily

Han Ximin

ximhan@126.com

DIDI Chuxing, China’s ride-hailing application, has taken control of Brazil’s leading ride-hailing business operator 99, the two companies said in a statement Wednesday.

The investment builds upon the deep existing partnership between Didi and 99 to further accelerate market growth in Latin America and bring more transportation choices to the region’s citizens, according to the statement.

The companies did not disclose the stake acquired nor the value, but Reuters quoted two people familiar with the deal as saying that the transaction would value 99 at more than US$1 billion and Didi would hold a “significant majority” of the Brazilian firm.

“Globalization is a top strategic priority for Didi,” said Cheng Wei, founder and chief executive of Didi.

Didi first invested US$100 million in 99 in January 2017, getting a stake and management rights in the Brazilian app.

Over the course of the year, 99 and Didi teams collaborated closely in areas from technology to product innovation, market development and operational management in Brazil, the two firms said in the statement.

The acquisition intensifies Didi’s global rivalry with Uber Technologies Inc., especially in Latin America. Reuters reported in December that Didi planned to enter Mexico this year.

Didi has previously partnered with overseas ride-hailing firms to offer reciprocal services in other countries, but it is now looking to launch its own services overseas.

Didi sealed its dominance in the Chinese market after buying out Uber’s China business in 2016, ending an expensive subsidy war that cost the U.S. firm roughly US$2 billion.

 

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