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OLX Group to invest $400 mn in Berlin's online car marketplace
short by Anushka Dixit / on Monday, 11 November, 2019
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.
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