Carsales ups stake in ICar Asia

19 Aug 2015
Carsales has topped up its shareholding in South East Asian automotive portal ICar Asia Limited, in which it has a minority holding. This gives Carsales a 20.2 percent holding in ICar Asia. The Asian portal is a loss-making business at present, with its full year 2014 results showing an EBITDA earnings loss of $13.2 million and a net profit loss of $16.7 million. However this was an improvement o


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