Carsales.com announces $1.2 billion raise to fully acquire Trader Interactive

Vehicle classifieds company Carsales.com (ASX: CAR) has announced a $1.2 billion raise in a bid to take full control of US-based RV and powersports marketplace platform Trader Interactive (TI).

Nine months after taking a 49 per cent stake in the Virginia-headquartered business, Carsales.com managing director and CEO Cameron McIntyre is bullish about its prospects, so much so that he's willing to dilute almost a quarter of the existing capital to complete the buyout.

CAR has launched an equity raise at $17.75 per share for investors, representing a 14.5 per cent discount to the last closing price on Friday.

Read More: https://www.businessnewsaustralia.com/articles/carsales-com-announces--1-2-billion-raise-to-fully-acquire-trader-interactive.html