Sumitomo speeds off with Carzonrent

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Carzonrent India has transferred its car leasing business through a slump sale to SMAS Auto Leasing India, a joint venture between Sumitomo Corporation Japan and Sumitomo Mitsui Auto Service Company Japan.

The acquisition of the lease business is part of the Sumitomo group’s expansion plans in the Asia-Oceania region after it established a presence in Australia and Thailand.

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