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Announced

Toyota to acquire SgCarMart from Singapore Press Holdings for $111m.

Financials

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Transaction Value£82m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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information services

Acquisition

Private

Friendly

Online and Social Platforms

Cross Border

Single Bidder

Singapore

Pending

Majority

online carpooling platform

Synopsis

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Toyota, a firm that manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide, agreed to acquire SgCarMart, an operator of an online car portal, from Singapore Press Holdings, a news and media conglomerate, encompassing newspapers, magazines, and digital content, for $111m. “We respect and recognise SGCM’s achievements within the automotive online space. Singapore can be truly proud of this digital icon and we are committed to utilising our know how and resources to further strengthen SGCM in and beyond Singapore. With the combined strengths and resources of our partners, we look forward to new opportunities to enable accelerated growth for SGCM and elevation to the next level," Vinod Cherumadathil, TFSSG MD and CEO.

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