CarGurus, Inc. (NasdaqGS:CARG) entered into membership purchase agreement to acquire remaining 49% stake of CarOffer, LLC for $75 million on November 6, 2023. Upon consummation of the Transaction (the ?Closing?), the Company will acquire the remaining interest in CarOffer that the Company does not presently own for an aggregate consideration of $75.0 million in cash, subject to certain adjustments set forth in the Purchase Agreement. The Closing is subject to customary closing conditions and regulatory approval and is expected to occur in the fourth quarter of 2023.
Nathan E. Hagler and Robert E. Bishop of Goodwin Procter LLP acted as legal advisor to CarGurus, Inc. Randall G. Ray of Munck Wilson Mandala, LLP acted as legal advisor to CarOffer, LLC.