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Carsales.com Provides an Investor Presentation - Acquisition and Entitlement Offer

27 Jun 2022  |  10:35:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Investor Presentation - Acquisition and Entitlement Offer

Carsales.com provided an investor presentation. It has exercised its call option to acquire the remaining 51% of Trader Interactive, (Acquisition), for USD$809m, or AUD$1,172m equivalent (Acquisition Price). The Acquisition Price values Trader Interactive on an 100% Enterprise Value (EV) equivalent basis at USD$1,897m, or AUD$2,749m equivalent. It will report the results of TI on a consolidated basis post completion of the Acquisition in H1 FY 2023. Pro forma FY 2022 Revenue and EBITDA for the combined business is expected to be between AUD$700-704m and AUD$379-383m respectively assuming Acquisition occurred on 1 July 2021. New Shares issued under the Entitlement Offer will participate in the FY 2022 final dividend.

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