Toyota to buy Chinese auto-leasing business from SK Group
Automaker's financing arm to tap market growth with $45m purchase
A Toyota exhibit at a Shanghai auto show: The Chinese car market is seen remaining on a growth track
NAGOYA -- Toyota Motor will acquire South Korean conglomerate SK Group's car leasing business in China to fuel its expansion in the world's biggest auto market.
Financing subsidiary Toyota Financial Services will buy the entire stake in Beijing-based SK Auto Service for an estimated 5 billion yen ($45.5 million), aiming to close the deal by month's end.
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