09022833777
Sections
Search
Subscribe
DealCurry
Equity
Venture Capital
Private Equity
M&A

Mergers & Acquisitions | 11 November 2010

Axel Springer, India Today Acquire 70.4% Stake In CarWale.com

by Deeshesh Chheda
Axel Springer, India Today Acquire 70.4% Stake In CarWale.com
Share on Social Media Email Facebook Twitter Linkedin
 
@deeshesh

German Media firm Axel Springer AG and the India Today group have together acquired a majority 70.4% stake in Automotive Exchange Pvt Ltd, the owner of automotive classified ads portal CarWale.com.

Axel Springer has bought 52.1% stake, while the India Today group has bought 18.3% stake.

Axel Springer and the India Today group already have a 49:51 joint venture partnership in India to publish the fortnightly magazine Auto Bild. The acquisition of Carwale is a natural extension of this partnership.

The remaining stake (about 30%) is with the founders led by Mohit Dubey and also employees. The founders have sold part equity.

Carwale's investors - early stage fund Seedfund and @Sierra_Ventures - have sold their entire stake in this deal.

In 2006, Carwale raised funding from Seedfund, diluting about a 30% stake. It raised another $7 Mn in commitment from Sierra Ventures in 2008.


GoAir Plans To Raise $100 Mn To Fund Aircraft Acquisition

GoAir Plans To Raise $100 Mn To Fund Aircraft Acquisition

Wadia group-promoted budget air-carrier GoAir is planning to raise around $100 Mn (around Rs 400- 500 Cr) to fund its aircraft acquisition plan.

Read More...

Navayuga Plan To Sell Stake In Its Power Assets

Navayuga Plan To Sell Stake In Its Power Assets

Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.

Read More...
DealCurry Timeline
TL Home Search New Keet
CONTACT US
Info@DealCurry.com
09022833777
A 314, 3rd Floor, AntopHill Warehousing Company,
Near Dosti Acres
Wadala(E),
Mumbai 400037
 
   
 
CLIENTS
USEFUL LINKS
SOLUTIONS
Copyright © EagleEye Research & Media Pvt. Ltd. 2009 All Rights Reserved - Interactive multimedia analysis platform for financial markets.
Site map |Terms of Use |Privacy Policy
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.