Australian website buys Korean business with Arnold Bloch Leibler’s advice

The $244m deal is a “significant milestone” in the company’s quest to lead its market, CEO says

Australian website buys Korean business with Arnold Bloch Leibler’s advice
Arnold Bloch Leibler (ABL) has advised an Australian company in acquiring South Korea’s leading online automotive classifieds business.

The top firm advised long-standing client Carsales.com as it acquired the 50.1% stake in SKEncar.com it didn’t already own. The deal was worth 205bn Korean Republic Won, or about $244mn. Carsales.com acquired its 49.9% stake in SKEncar.com in 2014.

Jonathan Wenig, corporate and M&A partner, led the ABL team. He was supported by senior associate Scott Phillips and lawyer Vidushee Deora.

“Our team has assisted carsales on a range of strategic international transactions over a number of years,” Wenig said.

Carsales.com has interests in automotive classifieds businesses in Argentina, Brazil, Chile, Indonesia,  Malaysia, Mexico, and Thailand. The acquisition is a significant milestone in the company’s long-term strategy to lead the online automotive classifieds space, said CEO Cameron McIntyre.


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