EURAZEO (EPA:RF) - EURAZEO TO SELL 49% OF ITS STAKE IN TRADER INTERACTIVE

Transparency directive : regulatory news

12/05/2021 06:31

Press release

EURAZEO TO SELL 49% OF ITS STAKE IN TRADER INTERACTIVE BASED ON A $1.625
BILLION VALUATION

Paris, 12 May, 2021

Eurazeo is announcing the sale of 49 % of its stake in Trader Interactive, a
provider of online advertising & marketing solutions to the powersports,
recreational vehicle, commercial truck & equipment industries based in Virginia
(USA), to carsales the largest online automotive advertising platform in
Australia with a growing presence in Latin America and Asia. Internationally,
carsales operates several marketplaces across both the automotive and specialty
vehicle segments with leading properties such as demotores.com in Argentina and
EnCar in South Korea.

Under this agreement, Trader Interactive is valued at $1.625bn corresponding to
26,5x CY 2020 Adjusted EBITDA. With this operation, Eurazeo and its affiliates
show a total valuation on a  realized  and unrealized basis of 2.8x their
original investment.

The sale of the 49% stake represents pre-tax proceeds of ~$280m for Eurazeo and
its affiliates, of which $190m for Eurazeo. This represents 1.5x on their total
initial investment(1). carsales has a call option for the 51% remaining equity
stake in Trader Interactive.

Trader Interactive was the first investment made by  Eurazeo's mid-large buyout
team in the US in June 2017. Over the last four years, Trader Interactive has
significantly  reinforced  its  leading position across each of its verticals
with the support of Eurazeo. Through its relentless focus on building a world
class technology and data platform along with targeted and strategic M&A,
Trader continues to deliver increasing value to its dealers every day.

Marc Frappier, Member of the Executive Board, Managing Partner of mid-large
buyout:

" Trader Interactive exemplifies Eurazeo's strategy to select and support
market leaders across attractive industries supported by strong fundamentals
and clear growth drivers. We look forward to accompanying Trader in the next
stage of its journey. "

(1) This multiple excludes the impact of FX and includes the proceeds from a
previous recapitalization for about 0.2x.

EURAZEO
www.eurazeo.com

Vivianne Akriche, Managing Director, mid-large buyout, added:

" carsales has a strong track record of building valuable international
partnerships in vertical marketplaces. We are very excited to partner with
carsales for Trader Interactive's next chapter and are convinced that combining
our respective experiences will further accelerate the Company's transformation
and growth. "

ABOUT EURAZEO

- Eurazeo is a leading global investment group, with a diversified portfolio of
EUR21.8 billion in assets under management, including EUR15.0 billion from
third parties, invested  in  450  companies.  With  its considerable private
equity, private debt, real estate and infrastructure expertise, Eurazeo
accompanies companies of all sizes, supporting their development through the
commitment of its nearly 300 professionals and by offering deep sector
expertise, a gateway to global markets, and a responsible and stable foothold
for transformational growth. Its  solid  institutional  and  family shareholder
base, robust financial structure free of structural debt, and flexible
investment horizon enable Eurazeo to support its companies over the long term.

- Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai,
Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.

- Eurazeo is listed on Euronext Paris.

- ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA

EURAZEO CONTACTS

Virginie Christnacht
HEAD OF COMMUNICATIONS
vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44

Pierre Bernardin
HEAD OF INVESTOR RELATIONS
pbernardin@eurazeo.com
+33 (0)1 44 15 16 76

PRESS CONTACT

David Sturken
MAITLAND/AMO
dsturken@maitland.co.uk
+44 (0) 7990 595 913

EURAZEO's latest news

22/04/2024 17:35

EURAZEO (EPA:RF) - EURAZEO TO SELL 49% OF ITS STAKE IN TRADER INTERACTIVE

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