carsales.com completed the acquisition of a 49% stake in Trader Interactive for $624m.

carsales, an online marketplace, which specializes in automotive, motorcycle and marine classifieds business in Australia, completed the acquisition of a 49% stake in Trader Interactive, a platform of branded marketplaces in the United States, from Eurazeo and West Street Capital Partners, two private equity firms, for $624m. "This acquisition is expected to accelerate our international growth strategy by providing us with exposure to a significant market in the United States across attractive non-automotive verticals. We are excited by the opportunity this investment provides carsales and look forward to working closely with Trader Interactive in helping them achieve their objectives and delivering shareholder value,” Cameron McIntyre, carsales Managing Director and CEO.