Santander Brasil agrees to sell 40% of Webmotors to Carsales for R$1.24 billion

Santander Brasil announced this Tuesday that it has closed a deal to sell a 40% stake in the capital of Webmotors to Carsales, for 1.24 billion reais, or about 353 million Australian dollars.

With the additional stake acquired by Carsales, the company will own 70% of Webmotors, a digital auto marketplace operating in Brazil. Santander Brasil gets 30%, in addition to commercial exclusivity.

The operation, according to Santander Brasil, will be accompanied by a capital increase of 500 million Australian dollars in Carsales.

Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.