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Australia's carsales.com to buy S.Korean JV for $184 mln
November 19, 2017 / 11:22 PM / 23 days ago

Australia's carsales.com to buy S.Korean JV for $184 mln

Nov 20 (Reuters) - Carsales.com said it had signed a memorandum of understanding with SK Holdings Co Ltd to buy the remaining 50.1 percent stake in South Korean joint venture Encar.com for about A$244 million ($184.49 million), before adjusting for working capital.

The deal was expected to be signed next month and completed in January, it added.

Australia-based Carsales.com had bought a 49.9 percent stake in Encar.com in April 2014.

$1 = 1.3226 Australian dollars Reporting by Shashwat Pradhan in Bengaluru; Editing by Stephen Coates

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