carsales.com Ltd (ASX:CAR) agreed to acquire the remaining 51% stake in Trader Interactive, LLC from Eurazeo SE (ENXTPA:RF) for approximately $820 million (AUD1,183.2 million) on June 27, 2022. The Acquisition is to be funded via an approximately $837.281 million (AUD1,207.0 million) fully underwritten 1 for 4.16 pro-rata accelerated non-renounceable entitlement offer. The Acquisition price values Trader Interactive on a 100% EV basis at $1,897 million representing an annualized Q4 FY223 EV / adjusted EBITDA acquisition multiple of 21.3x. For the year 2021, Trader Interactive reported revenues of $125 million and EBITDA of $69 million. The Acquisition is subject to various conditions, including obtaining the necessary regulatory approval, no material adverse change occurring prior to completion and execution of the securities purchase agreement, which are expected to be satisfied by late Q1 FY23. Jefferies acted as financial advisor to Trader Interactive. Amr Razzak of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor and Morgan Stanley (NYSE:MS) acted as financial advisor to carsales.com Ltd in the transaction. Christopher R. Machera, Amanda Rotkel, Helyn S. Goldstein, Michael Nissan, Paul J. Overmyer, Shawn Brett Cooley, Timothy F. Burns, Vadim M. Brusser and Timothy C. Welch of Weil, Gotshal & Manges LLP acted as legal advisor to Eurazeo and Trader Interactive LLC.

carsales.com Ltd (ASX:CAR) completed the acquisition of remaining 51% stake in Trader Interactive, LLC from Eurazeo SE (ENXTPA:RF) on September 30, 2022.