Jardine Matheson has, on July 1, reached an agreement with Zhongsheng Group Holdings to strengthen the strategic partnership between both companies.

Zhongsheng Group Holdings is a leading automobile distribution group in China whose shares are listed on the mainboard of the Hong Kong Stock Exchange (HKEx).

Under the agreement, Jardine Matheson will transfer to Zhongsheng its Mercedes-Benz auto dealership business operating in the Chinese mainland under the Zung Fu brand.

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