CarTrade acquires OLX’s India business for INR 535.54 Cr
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In a major consolidation move in India’s used cars business, CarTrade has acquired a 100% stake in Sobek Auto India Private Limited, consisting of the OLX classifieds platform and OLX Autos C2B transaction businesses. The deal, announced a month ago, sees the culmination of a months-long process which saw Prosus, which owns a 99% stake in OLX, in talks with multiple parties to sell its India business.