Prosus Unit OLX to Buy French Auto Trader in $1.3 Billion Deal
Prosus NV's subsidiary, OLX Group BV, has announced the acquisition of the French online auto trader, La Centrale, for €1.1 billion ($1.3 billion). This deal aims to expand OLX's business into Western Europe. OLX Group, a leading online classifieds platform, operates in various markets around the world. The acquisition of La Centrale, a prominent French auto trading platform, will bolster OLX's presence in the European market. The transaction is subject to regulatory approval and is expected to close in the first half of 2023. The deal highlights Prosus's strategy to strengthen its position in the online classifieds industry through strategic acquisitions. The acquisition of La Centrale is seen as a significant move for OLX as it looks to capitalize on the growing demand for online auto trading services in the French market and potentially expand its reach across Western Europe.
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