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Malaysia’s Carsome buys iCar Asia in $200m deal Save Share Patrick Grove’s Catcha Group will sell its ASX-listed iCar Asia to Malaysian used car platform Carsome in a deal worth $200 million, topping last year’s approach by Chinese company Autohome. Carsome will initially acquire a 19.9 per cent stake in iCar Asia, an online car classifieds business, and has made a proposal with Catcha Grove to acquire the rest of the company at about 55¢ a share. Patrick Grove’s Catcha Group will sell ASX-listed iCar Asia to Malaysian platform Carsome in a $200m deal.  Charles Pertw...

Carsome’s co-founder and group CEO Eric Cheng: “This is the first step toward consolidation to form the largest digital automotive group in terms of revenue, user base, largest live listing, and the best end-to-end fulfilment capability in the region.” KUALA LUMPUR (July 13): Carsome Group announced today that it is acquiring 19.9% of Australia-listed iCar Asia Ltd from Catcha Group. It added that Carsome and Catcha Group have made a joint proposal to the independent directors of iCar Asia to acquire the balance of 80.1% of iCar from its shareholders. The total transaction is estimated ...

Carsome Group will acquire iCar Asia in a deal worth $200M Southeast Asia’s car marketplace wars are going into high drive. Today Carsome Group, one of the region’s largest online used car marketplaces, said it plans to acquire listings platform iCar Asia in a transaction worth more than $200 million. Carsome has agreed to acquire 19.9% of iCar Asia from Malaysia internet conglomerate Catcha Group. In exchange, Catcha Group will become a shareholder in Carsome Group. Carsome and Catcha Group have also made a joint proposal to iCar Asia’s directors to buy the rest of the company from its...

Carsome, Catcha Group partner to acquire iCar Asia in $200m deal July 13, 2021 Southeast Asian used car trading platform Carsome announced that it will be acquiring a 19.9% stake in ASX-listed iCar Asia Ltd from Catcha Group, according to a company statement. Carsome and Catcha group have also made a joint proposal to acquire the rest of the 80.1% of iCar from its shareholders in a total transaction value of more than $200 million. The deal will create the largest digital automotive marketplace in the region, the statement added. According to the announcement, Catcha Group will become a share...

Yoolim Lee, Bloomberg News (Bloomberg) -- Southeast Asian used car marketplace Carsome Group has become Malaysia’s first technology unicorn as part of a share-swap deal that will see the startup take a stake in iCar Asia Ltd. Carsome agreed to acquire 19.9% of Australia-listed automotive portal iCar from Catcha Group, the largest shareholder of ICar with a 30% stake. In return, Catcha will become a shareholder of six-year-old Carsome, boosting the startup’s valuation to more than $1 billion. Following the share swap, Carsome will offer to buy the remaining 80.1% in iCar from existin...