KAR Completes European Acquisition Featured

By Staff Writer February 01, 2019 509

KAR Auction Services Inc. completed its acquisition of Belgium-based CarsOnTheWeb (COTW).

COTW maintains sales operations in Belgium, France, Germany, Italy, the Netherlands and Spain.

COTW will operate as a wholly-owned subsidiary of KAR and will retain COTW's current operating locations, employees and key COTW leadership and management team members. The transaction is valued at approximately 91 million euros in cash and up to an additional 65 million euros over a specified period contingent on certain terms, conditions and COTW performance.

Rate this item
(0 votes)
Last modified on Monday, 04 February 2019 13:58