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Malaysian trading startup Carsome to acquire iCar Asia in $200m deal

Deal creates the largest digital automotive marketplace in Southeast Asia

Traffic in Kuala Lumpur. iCar Asia operates an automotive listing and content platform across Malaysia, Thailand, Indonesia and Singapore, the same markets where Carsome provides end-to-end solutions for car buyers and dealers, from vehicle inspection to ownership transfer and car financing.   © Reuters

CEBU, Philippines -- Southeast Asian used car trading platform Carsome will acquire a 19.9% stake in ASX-listed iCar Asia from Catcha Group, according to a company statement.

Carsome and Catcha have also made a joint proposal to acquire the remaining 80.1% of iCar Asia from its shareholders in a transaction with a total value of more than $200 million.

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