Digital Wholesale Auction Platform to Anchor Company’s European Operations and Expansion
FOR IMMEDIATE RELEASE
Carmel, IN – November 28, 2018 – KAR Auction Services, Inc. (NYSE: KAR), a global automotive remarketing and technology services company, announced it has reached a definitive agreement to acquire Belgium-based CarsOnTheWeb (COTW). The potential transaction is valued at approximately 91 million euros in cash and up to an additional 65 million euros over a specified period of time contingent on certain terms, conditions and COTW performance. The companies expect to close the transaction the first quarter of 2019 subject to certain required regulatory approvals.
Read More!
Facebook Comments