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BRIEF-Carsales.com Ltd acquires controlling shareholding in Chileautos

Published 29/03/2016, 08:32 am
© Reuters.  BRIEF-Carsales.com Ltd acquires controlling shareholding in Chileautos
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March 29 (Reuters) - Carsales.Com Ltd CAR.AX :

* Carsales acquires Chile's number one automotive classifieds site

* Carsales acquired an 83% stake in chileautos, with the existing owners retaining the remaining 17% stake

* Investment is expected to make a positive contribution to EBITDA, albeit not material

* Deal is expected to be EPS accretive to carsales shareholders after the first year of ownership.

* Carsales' initial investment was US$15M, funded from existing cash reserves and existing syndicated debt facilities

* Source text for Eikon ID:nASX8Pv11q

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