Carsales completes Mexican acquisition

Online car seller Carsales.com has completed its acquisition of a 65 per cent stake in Mexico-based auto classifieds website SoloAutos, for around $9mln.

1 min read

Published 5 October 2015 9:10am

Updated 6 October 2015 11:06am

Source: AAP

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Online car seller Carsales.com has completed the acquisition of a 65 per cent stake in Mexico-based auto classifieds website SoloAutos.

The company in August said it would acquire the SoloAutos stake for around $9 million. It has funded the buy through existing debt facilities.

Carsales lifted full year net profit eight per cent to a record $103.2 million for 2014/15, helped by a number of Australian and overseas acquisitions.

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