OLX Group to invest $400 mn in Berlin's online car marketplace

OLX Group said on Monday that it will invest up to $400 million in Berlin-based online car marketplace Frontier Car Group (FCG). The two companies had entered into a JV in 2018 and OLX, through its investment arm, had invested $89 million in FCG. The transaction will result in OLX Group becoming the largest shareholder in FCG.