Here to ensure you’re never lost
Tech-everything giant Tencent is about to purchase a stake in Here, a German mapping company. Chinese mapping company NavInfo and Singapore-based investment firm GIC will join in the fun. All in all, the trio will purchase a 10% stake to see Here expand to China. The purchase means Here’s current three shareholders Audi, BMW, Daimler would reduce their indirect shareholdings in equal measure. Bottom Line: Location. Location. Location. Recall: Tencent is the backer of P&C insurer ZhongAn and an emerging life insurer by the name of Hetai Life.