Carsales.com to acquire an additional 40% stake in WebMotors from Santander Brazil for $239m.

Carsales.com, a company that provides a smooth car buying and selling journey, agreed to acquire an additional 40% stake in WebMotors, an automotive digital marketplace, from Santander Brazil, a subsidiary of the Spanish Santander Group, for $239m. “We believe that the new format of the agreement will allow us to further expand the volume of car financing made through the portal and to access technological innovation that will certainly result from this partnership. At the same time, it further boosts the development of webmotors due to its proximity to a company that is the best international partner we could have in this segment," Angel Santodomingo, Santander Brasil CFO.