A group led by the largest transport network company in China, Didi Chuxing, will invest more than US$100 million in a Brazilian counterpart, 99, Reuters reports, quoting both Didi Chuxing and 99.
The news agency says Didi Chuxing will have a seat on the board of 99 and give 99 strategic guidance and support.
The report says neither company has disclosed the size of the stake the investors will take in 99, or identified the investors other than Didi Chuxing.
Didi Chuxing says it has nearly 400 million users in more than 400 cities, Reuters reported on Wednesday.
