Nine unloads Carsales.com
EXCLUSIVE | Nine Entertainment Co, the rebadged PBL Media, has sold its 49.1 per cent interest in carsales.com to pay down some of its debt load ahead of a float pencilled in for the second half of 2011
Nine Entertainment Co, the rebadged PBL Media, has sold its 49.1 per cent interest in carsales.com to pay down some of its debt load ahead of a float pencilled in for the second half of 2011.
The sell-down of 114.2 million shares at $4.92 each is valued at just under $562 million and was completed after UBS bought the stock from Nine and placed it with institutions on Saturday.
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