CAR : China's CAR Inc receives takeover bid worth over $1 billion

(Reuters) - Chinese car rental firm CAR Inc on Friday said it received a takeover offer worth up to HK$9 billion ($1.16 billion) from a unit of North Asia-focused private equity firm MBK Partners.

The offer of HK$4 per share in cash is at a premium of about 18% to CAR's last closing price of HK$3.39 per share on Friday.

($1 = 7.7533 Hong Kong dollars)

(Reporting by Soumyajit Saha in Bengaluru; Editing by Devika Syamnath)