KAR Auction Services Inc has agreed to acquire CarsOnTheWeb (COTW) for approximately €156m ($177m).
The transaction will consist of an initial payment of €91m ($103m) in cash, plus additional amounts of up to €65m ($74m) over a period of time based on COTW’s performance and other conditions.
Completion of the deal is scheduled for the first quarter of 2019.
US-based KAR Auction Services is a leading global automotive remarketing services company.
CarsOnTheWeb is an international online car auction platform based in Belgium. The company connects fleet owners, OEMs, dealers, and wholesalers.
K2018535347 Proprietary Limited will acquire a 100% stake in Verimark Holdings Ltd.
The acquisition will involve the purchase of 29,508,033 ordinary shares, and Verimark will be delisted from the JSE.
K2018535347 Proprietary Limited is a special-purpose vehicle created for the acquisition by the Van Straaten Family Trust.
Verimark Holdings Ltd distributes household and personal goods.
Both companies involved in the deal are based in South Africa.
The commercial relations between the two companies reportedly started last summer when a deal was signed for the production of a handset.
Vingroup is a leading retail company and the biggest private-sector company in Vietnam.
BQ is a leading handset manufacturer based in Spain. BQ smartphones are manufactured by Mundo Reader.
Robinsons Retail Holdings has acquired Rustan Supercenters (RSCI) from Mulgrave Corporation for $344m.
Robinsons Retail Holdings acquired a 100% stake in Rustan Supercenters under a share-swap agreement announced in March 2018.
Mulgrave Corporation is a food and personal care goods wholesale retailer and a subsidiary of Dairy Farm International Holdings based in Hong Kong.
Philippines-based Robinsons is a multi-format retailer.
OnCost Cash and Carry will gain 20 outlets across Kuwait after acquiring Gulfmart.
OnCost Cash and Carry is a wholesale retailer that owns grocery markets and slaughterhouses.
Gulfmart operates 16 stores and offers a range of groceries and personal hygiene products.
Both companies involved in the transaction are based in Kuwait.