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carsales.com Ltd To Acquire 30% Of WebMotors SA


Tuesday, 16 Apr 2013 06:32pm EDT 

carsales.com Ltd announced that it has signed a binding term sheet and entered into exclusive negotiations relating to carsales' acquisition of a 30% interest in WebMotors SA, an automotive Website in Brazil. As part of the transaction, the Company will subscribe for a 30% stake in WebMotors on a post-dilution basis for consideration of BRL 180 million (approximately AUD 89 million), with the proceeds remaining to fund the growth of WebMotors. 

Company Quote

10.72
0.17 +1.61%
7:06pm EST