Warburg Pincus to buy another 17.11% stake in HK-listed CAR for $145m

Warburg Pincus has entered into an agreement to purchase another 17.11 per cent stake in Hong Kong-listed car rental service provider China Auto Rental (CAR), controlled by the founder of Luckin Coffee, for a combined $145 million. The deal will make the private equity firm CAR’s largest shareholder.