CarTrade.com completed the acquisition of Automotive Exchange Private Limited from Axel Springer SE (DB:SPR), Mohit Dudley, Founder of Automotive Exchange Private Limited and other investors.
January 30, 2016
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CarTrade.com agreed to acquire Automotive Exchange Private Limited from Axel Springer SE (DB:SPR), Mohit Dudley, Founder of Automotive Exchange Private Limited and other investors in cash on November 11, 2015. Axel Springer SE sold 90.3% stake for €64.2 million. The transaction is expected to close over the coming weeks. Radhika Bhatt and Gautam Ganjawala of Wadia Ghandy & Co. acted as the legal advisor for CarTrade.com. Niren Patel, Rabindra Jhunjhunwala, Kumar Saurabh Singh, Anand Mehta, Bijal Ajinkya, Adheesh Nargolkar, Moin Ladha and Shailendra Bhandare, Aravind Venugopal, Ashraya Rao, Ahana Sinha, Adyasha Das, Siddharth Sawhney, Parvati Parkkot, Yashashree Mahajan, Vijayaraghavan, Ankit Namdeo and Alisha Ganjawala of Khaitan & Co. acted as the legal advisor for Axel Springer SE. Nishith Desai Associates acted as the legal advisor for Automotive Exchange Private Limited. Morgan Stanley acted as financial advisor for Axel Springer and Mohit Dudley.
CarTrade.com completed the acquisition of Automotive Exchange Private Limited from Axel Springer SE (DB:SPR)Mohit Dudley, Founder of Automotive Exchange Private Limited and other investors in January 2016.
CarTrade Tech Limited is an India-based multi-channel auto platform with coverage and presence across vehicle types and value-added services. The Company offers a variety of solutions across the automotive transaction value chain such as the buying, selling, marketing, valuation, and financing of new and used cars, two-wheelers, commercial vehicles, and farm and construction equipment. The Companyâs platforms enable new and used automobile customers, vehicle dealerships, vehicle original equipment manufacturers (OEMs), and other businesses to buy and sell their vehicles in a simple and efficient manner. It offers inspection and valuation services, and technology solutions for banks and insurance companies. It offers its services under the CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto and AutoBiz brands. The Company's subsidiaries include M/s Shriram Automall India Limited, M/s CarTrade Finance Private Limited and M/s Cartrade Foundation.
CarTrade.com completed the acquisition of Automotive Exchange Private Limited from Axel Springer SE (DB: SPR), Mohit Dudley, Founder of Automotive Exchange Private Limited and other investors.
CARTRADE TECH LIMITED 
