Australia's Carsales.com to raise $329 million to boost stake in Brazil's Webmotors

CAR

07/03/2023 22:06

March 8 (Reuters) - Australian online auto classifieds
firm Carsales.com Ltd  CAR.AX  said on Wednesday it would launch
an A$500 million ($329.40 million) equity raising to fund a deal
to acquire an additional 40% stake in Brazil-based automotive
digital marketplace Webmotors SA.
    The acquisition price for the stake increase will be about
A$353 million and will make Carsales a 70% owner of Webmotors,
it said.


($1 = 1.5179 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru; Editing by Maju
Samuel)
 ((Himanshi.Akhand@thomsonreuters.com;))