Indigo Glamour Company Limited entered into a sale and purchase agreement to acquire 20.86% stake in CAR Inc. (SEHK:699) from UCAR INC. for HKD 1.7 billion on November 10, 2020. Under the terms, Indigo Glamour will pay HKD 4 per share of CAR and acquire 442.6 million shares. Transaction is subject to approvals from government or regulatory authorities and other customary conditions precedent for similar transactions. Goldman Sachs (Asia) LLC and J.P. Morgan Securities (Asia Pacific) Limited acted as financial advisors for Indigo Glamour Company in the transaction. Indigo Glamour Company Limited completed the acquisition of 20.86% stake in CAR Inc. (SEHK:699) from UCAR INC. on December 15, 2020. All conditions have been fulfilled as of December 15, 2020.