(Adds details on deal, quotes from executive)
SAO PAULO, March 7 (Reuters) - Brazilian lender Santander Brasil SA SANB11.SA said on Tuesday it will sell 40% of car-selling platform WebMotors to Australia's Carsales.com (CAR) for 1.24 billion reais ($238.87 million).
Carsales will hold 70% of WebMotors after the deal is concluded, while Santander will own the remaining 30%.
The lender will continue as a partner of the platform in providing credit, insurance and other financial solutions to its users.
The deal will help Santander to "further expand the volume of car financing carried out by the platform", the bank's chief financial officer Angel Santodomingo, said in a statement.
The deal will be accompanied by a capital increase of A$500 million ($329 million) in Carsales, Santander said. ($1 = 5.1910 reais) ($1 = 1.5188 Australian dollars)
News: CAR UPDATE 1-Brazil's Santander to sell 40% of WebMotors to Carsales.com for $240 mln
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Last
$37.00 |
Change
-0.130(0.35%) |
Mkt cap ! $13.98B | |||
| Open | High | Low | Value | Volume |
| $37.04 | $37.13 | $36.28 | $38.79M | 1.053M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 641 | $37.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.09 | 574 | 1 |
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| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| CAR (ASX) Chart |