Brazil's Santander to sell 40% of WebMotors to Carsales.com for $240 mln

CAR

07/03/2023 21:24

SAO PAULO, March 7 (Reuters) - Brazilian lender
Santander Brasil SA  SANB11.SA  said on Tuesday it will sell 40%
of car-selling platform WebMotors to Australia's Carsales.com
 CAR.AX  for 1.24 billion reais  ($238.87 million).
    Carsales will hold 70% of WebMotors after the deal is
concluded, while Santander will own the remaining 30%.
    
($1 = 5.1910 reais)

 (Reporting by Fabricio de Castro; Writing by Peter Frontini;
Editing by Isabel Woodford)
 ((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))