Carsales pursuing sale of it’s 50.1% stake in Stratton Finance

Company News

by Anna Napoli

Online automotive marketplace, carsales (ASX:CAR) is pursuing the sale of it 50.1 per cent interest in vehicle finance broking business Stratton Finance.

carsales says it believes it can deliver better value for shareholders by investing in the growth and development of its core Australian and international businesses.

Timing of a potential sale of carsales’ interest in Stratton will be determined following the completion of a strategic review.

Customers will continue to be able to access Stratton’s products and services through the carsales platform.

Shares in carsales (ASX:CAR) are trading 1.31 per cent higher at $13.88.
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.