Carsales.com inks $126m deal

Online car classifieds website to take 49.9 per cent stake in South Korean group.

Online automotive business Carsales.com (CRZ) has inked a $126 million deal to buy a 49.9% stake in a South Korean online car classifieds website.

In a statement, Carsales managing director Greg Roebuck said the acquisition of a stake in the online assets of SK Encar was an important step in its long-term growth and internationalisation.

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