SYDNEY, AUSTRALIA: carsales.com Limited (ASX: CAR) has completed the acquisition of the remaining 51% of leading US digital marketplace business Trader Interactive.

The acquisition was funded via a successful A$1,207 million accelerated non-renounceable entitlement offer. carsales also successfully refinanced its debt facilities, materially enhancing the size and structure of its debt facilities by upsizing it from A$900 million to A$1,600 million and extending the tenor to provide ongoing working capital support and replace the existing secured debt facility at Trader Interactive.

Commenting on the transaction, Cameron McIntyre, CEO of carsales said, “We are very pleased to complete the acquisition of Trader Interactive and we are incredibly excited about the future potential of the business. The business is performing very well and we have already begun working on some of the significant future growth opportunities that can be unlocked through 100% carsales ownership”.

carsales.com Ltd (ASX: CAR) is the largest online automotive, motorcycle and marine classifieds business in Australia. Attracting more Australians interested in buying or selling cars, motorcycles, trucks, caravans and boats than any other classified group of websites.

Together with its subsidiaries employing more than 670 people in Australia, carsales.com Ltd develops world leading technology and advertising solutions that drive its business around the world. The carsales.com Ltd network has operations across the Asia Pacific region and has interests in leading classified businesses in South Korea, the United States, Brazil, Mexico and Chile, and non-automotive classified businesses in the United States.