Australia's Carsales.com to raise $329m for 40% more stake in Brazil's Webmotors

Australia's Carsales.com to raise $329m for 40% more stake in Brazil's Webmotors

Photo by Ivana Cajina on Unsplash

Australian online auto classifieds firm Carsales.com Ltd said on Wednesday it would launch an A$500 million ($329.40 million) equity raising to fund a deal to acquire an additional 40% stake in Brazil-based automotive digital marketplace Webmotors SA.