The UK’s largest online automotive marketplace Auto Trader Group PLC (LSE:AUTO) today disclosed the sale of its subsidiary Webzone Limited, which operates Ireland-based automotive marketplace Carzone.
The business was sold to Mediahuis Ireland, a leading print and digital media publisher, for a €30mln (£26.05mln) consideration.
Mediahuis Ireland also owns the CarsIreland.ie and Cartell.ie online marketplaces.
Commenting on the sale, Nathan Coe, chief executive officer of Auto Trader, said: "Carzone has been part of the Auto Trader Group for nearly 20 years, and I want to thank the whole Carzone team for their hard work during that time.
“We remain focused on our strategy in the UK, which is to grow our marketplace and establish the products and technology to enable retailers to do more of the car buying journey online, on Auto Trader."
Xavier van Leeuwe, chief executive officer of Mediahuis, said: "Adding to our existing CarsIreland.ie and Cartell.ie brands, Mediahuis will present an unrivalled offering to the entire Irish motor industry, manufacturers, retailers and consumers alike, allowing us to build the business that will lead the industry in years to come."