[THE INVESTOR] LG CNS is selling its car-sharing service Citycar to a local private equity fund Cobaltsky Partners, industry sources said on Sept. 12.
The IT solutions unit of LG Group said it has decided to sell its 100 percent stake in its affiliate Everon, the service operator, to Cobaltsky. More details, including the deal price, were not revealed.
LG CNS said it would focus more on its flagship IT service business after the sell-off.
Everon, established in 2012, has offered a car-sharing service using full-electric vehicles. Currently, it owns some 350 electric cars, offering car-sharing solutions to Korea Electric Power Corp.