Carsales will offer investors new shares at $17 each to raise $600 million to fund the acquisition, with the remaining $222 million to be funded with existing debt facilities.
European investment major Eurazeo is set for a 2.8x return selling its stake in powersports, RV and truck online advertising and marketing specialist Trader Interactive in a deal valuing the business at more than $1.6bn.
ASX dips 0.7pc amid regional sell-off over US inflation fears
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The Australian sharemarket tumbled for a second straight session, extending its fall away from its record high, as concerns over Wednesdayâs pending US inflation report prompted a sell-off across regional markets.
The S&P/ASX 200 Index dropped 52.1 points, or 0.7 per cent, to 7044.9, down 1.8 per cent from the record high it hit on Monday.
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Japanâs TOPIX index dropped 1.3 per cent, Koreaâs KOSPI dipped 1.6 per cent and New Zealandâs NZX 50 lost 0.6 per cent.
âDespite the severity of the moves, we sensed limited panic in our client conversations with many using (the) weakness as an opportunity to buy the dip, particularly in the value orientated areas,â JPMorgan analysts said in a note.