CarSales completes acquisition of DeMotores
24 Feb 2017
ASX-listed auto vertical CarSales (ASX:CAR) announced today it has completed the acquisition of Latin America’s auto site DeMotores in Argentina, Chile and Colombia. Initially, the deal was expected to be completed by the end of March.
A former asset of extinct Latin American classifieds group Dridco, and more recently La Nación, one of Argentina’s largest media companies, DeMotores is a top-3 vertical in Argentina. The acquisition spices up the competition between CarSales and LatAm Autos (ASX:LAA) in several Latin American markets, including Mexico and now Argentina.