Carey advised Chileautos on the sale of majority stake to Carsales, an Australian online car classified business.
Chileautos is Chile´s largest online automotive advertisements website, handling the sale of 80% of second hand vehicles in the country. The deal, valued at $15 million, gives Carsales 83% of Chileautos and a stronger foothold in Latin America. Carsales already owns 65% of Mexican auto classifieds business SoluAutos and 30% of Brazilian website WebMotors.
Partner Diego Peralta led the team at Carey advising Chileautos. Australian buyer Carsales retained a squad at Philippi Prietocarrizosa & Uría with partner Alberto Pulido at the helm.