Carsales.com Ltd (ASX: CAR) announced that it has entered into an agreement with Banco Santander S.A., whereby Carsales will acquire an additional 40% of Webmotors S.A., the leading Brazilian automotive digital marketplace. The acquisition price is approximately AU$353 million, bringing carsales’ stake in Webmotors to 70%, with Santander retaining a 30% stake. Santander will maintain its exclusive commercial relationship with Webmotors, continuing to provide credit and financial solutions for transactions made through the Webmotors platform.
The equity change in Webmotors is expected to provide significant benefits for the company, leveraging the expertise of Carsales in areas such as digital marketing, customer experience, and services within the digital automotive ecosystem. With this change, Webmotors can strengthen its market position while retaining the support of Santander, the leading auto loans provider in Brazil, and improve its offerings for dealerships, franchises, OEMs, and consumers.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
