Paris-based private equity house Eurazeo is to sell its 49% stake in the Virginia-based automotive online advertising firm Trader Interactive for a sum reported to be $624m.

The sale is being made to Carsales, the largest online automotive advertising platform in Australia, which has a call option for the 51% remaining equity stake in Trader Interactive.

Eurazeo is a leading global investment group, with a diversified portfolio of €18.8 billion in assets under management, including €12.5 billion from third parties, invested in over 430 companies. With its considerable Private Equity, real estate, private debt and fund of funds 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.

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