Completes Stratton Finance Investment
Sydney, July 15, 2014 AEST (ABN Newswire) - carsales.com Ltd (
ASX:CRZ) (CSXXY:OTCMKTS) today announces that further to the announcement made to the ASX on 1-July 2014 that it has completed its investment in Stratton Finance Pty Ltd.
carsales' investment has been funded by existing cash reserves and the draw down of a non-syndicated debt facility held with the National Australia Bank. carsales reiterates the guidance given to the market in the announcement made on 1-July that it expects the acquisition to be EPS accretive immediately.
About Carsales.com Ltd
Carsales.com Ltd. (ASX:CAR) (OTCMKTS:CSXXY) listed on the ASX in 2009 and is the largest online automotive, motorcycle and marine classifieds business in Australia; attracting more Australians interested in buying or selling cars, motorcycles, trucks and boats than any other classified group of websites. carsales.com Ltd's first revenues were reported in the financial year 1998.
carsales.com.au is Australia's number one automotive classified website and in September 2011 attracted more than 3.8 million unique visitors between its desktop and mobile sites. The carsales network of websites also includes CarPoint.com.au, bikesales.com.au, RedBook.com.au as well as leading boat, caravan, and truck and machinery classified websites and in September 2011 attracted more than 4.5 million unique visitors.
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