Carsales buys in South Korea

Carsales.com has underlined its international aspirations this week with a couple of deals.The first was to subscribe for an additional 3% of iCar Asia, at $1 per share, for a total consideration of $7.2m. That takes Carsales' stake to 22.9% and is the most it can buy without launching a full takeover offer for the company (which it is in any case prevented from doing, without iCar Asia's agreement, by the terms of a lock-up agreement).The money will be handy for iCar Asia, which recently reported a $6.9m loss for the year to December and had only about $12m cash...

Carsales.com has underlined its international aspirations this week with a couple of deals.

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