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Carsales.com to Acquire Remaining Stake in US Marketplace Operator Trader Interactive
Tuesday 28 June 2022

Australian automotive, motorcycle, and marine online marketplace carsales.com Ltd plans to buy the remaining 51% of US-based marketplace operator Trader Interactive from the current investors, Eurazeo and Goldman Sachs Asset Management to bring their holding up to 100%, the company said.

The move to acquire Trader Interactive first started last year, when carsales purchased 49% of Trader Interactive in August of 2021, for USD 624m. The deal is expected to conclude in late 3Q22. The company will acquire the remaining stake for USD 809m.

Through its brands such as Cycle Trader, RV Trader, Commercial Truck Trader and Equipment Trader, Trader Interactive connects over 13m consumers monthly to over 9,500 dealers.

Trader Interactive connects buyers and sellers in the powersports, recreational vehicle, commercial vehicle, and heavy equipment industries through a broad portfolio of marketplaces that reach 13m unique monthly visitors.

Linked by a widely recognized family of "Trader" trademarks dating back several decades, the company's brands include lifestyle vehicle marketplaces Cycle Trader, RV Trader, ATV Trader, PWC Trader, Snowmobile Trader, Aero Trader, and Trade-A-Plane, as well as commercial vehicle marketplaces Commercial Truck Trader, Equipment Trader, NextTruck, Rock and Dirt, and Tradequip.

Additionally, the company portfolio includes Statistical Surveys, the provider of market share data to the lifestyle vehicle industries.

Founded in 1997, carsales.com Ltd (ASX: CAR) operates the largest automotive, motorcycle and marine classifieds business in Australia and Encar, the leading automotive business in South Korea.

Carsales wholly owns classifieds businesses in Mexico, Argentina and Chile and is a significant minority shareholder of webmotors in Brazil. carsales is regarded as one of Australia's original disruptors and has expanded to include a large number of brands.

Eurazeo is a global investment company, with a diversified portfolio of EUR 32bn in assets under management, including nearly EUR 23.2bn from third parties, invested in 530 companies.

Goldman Sachs Asset Management brings together traditional and alternative investments. It is the primary investing area within Goldman Sachs (NYSE: GS).

Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.
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Date Published: 28/06/2022

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