Tengelmann Ventures and corporate JV Asia Pacific Internet Group have exited online automotive retail platform Carmudi's local spinoff in an acquisition by CarDekho.

Automotive e-commerce platform CarDekho has paid an undisclosed amount to acquire counterpart Carmudi Philippines, allowing investors including retail group Tengelmann to exit, Times of India has reported. Spun off from Germany-headquartered Carmudi, Carmudi Philippines runs an online marketplace where buyers can access new and used second hand cars, motorcycles, minivans and pickup trucks for sale.…

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