Carey steers Frontier Car Group/OLX Group merger

Carey has assisted on the merger of the two car-sales platforms

Carey advised Frontier Car Group (FCG) on a merger with OLX Group to form OLX Autos. FCG operates a car sales platform in Chile and the newly formed company will have operations in twelve countries, including the US, Argentina, Mexico, India and Chile, among others.

With this transaction the new company reaches a net worth of more than $1 billion, entering into the select group of “unicorns”, and it became the largest used car dealer in LATAM. Thus became the first time that a start-up co-founded by two Chileans achieves this category. Due to the level of operations of the companies involved, the transaction included negotiations under different laws and jurisdictions. FCG operates the VéndenosTuAuto.com brand in Chile. The merge resulting company will have operations in Argentina, Chile, Colombia, Ecuador, Peru, Mexico, India, Indonesia, Pakistan, Nigeria, Poland and the United States. It will also own more than 500 car inspection centres and operations under different and well-known brands such as OLX CashMyCar, 321 SPRZEDANE!, CarFirst, Cars45 and Webuyanycarusa. FCG has grown exponentially since its founding in Berlin in 2016 by Chilean partners Ricardo Donoso and Ignacio Detmer, along with Sujay Tyle, Peter Lindholm and Andre Kussman.

Carey team was led by partner Francisco Guzmán (pictured), and involved associates Carlos Alcalde and Andrés Latorre.