carsales.com Ltd (ASX:CAR) signed a binding memorandum of understanding to acquire the remaining 50.1% stake in SK ENCARSALES.COM Ltd. from SK Holdings Co., Ltd. (KOSE:A034730) for approximately KRW 210 billion on November 17, 2017. Under the terms of transaction, carsales.com Ltd will acquire 0.25 million shares representing about 50% stake. The deal value is prior to adjusting for movements in working capital. The deal is expected to be funded by new syndicated debt facilities. The acquisition is subject to regulatory approval (if required), confirmatory due diligence and no material adverse change occurring prior to completion. The transaction has been resolved by the Board of SK Holdings Co., Ltd. carsales and SK Holdings expect the final deal documentation to be signed before the end of December 2017, and the deal to be completed by January 25, 2018. carsales expects the acquisition to be neutral to adjusted earnings per share in fiscal year 2018 and accretive in fiscal year 2019 and beyond.

carsales.com Ltd (ASX:CAR) completed the acquisition of 50% stake in SK ENCARSALES.COM Ltd. from SK Holdings Co., Ltd. (KOSE:A034730) on January 19, 2018.