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Carsales buys Trader Interactive

The A$5.3bn Australian listed online car market is buying the outstanding 51% of Trader Interactive, of Virginia, US, requiring a $800m fundraise to finance the deal. acquired the initial 49% in August last year at a cost of $624m and is buying the remainder from Goldman Sachs and Eurazeo for $809m, giving a total EV of $1.9bn. Trader Interactive, founded in 2010, links over 13m consumers to almost 10k dealerships through its portfolio of Trader brands including RV Trader, Commercial Truck Trader, Snowmobile Trader, Cycle Trader and Equipment Trader. The company operates with a staff of 350 and reached a revenue of $125m in 2021. The company now anticipates international expansion, particularly in the US.