Transaction Capital acquires controlling stake in car platform WeBuyCars

SOUTH AFRICA – Transaction Capital, an investment management company, has acquired 74.9% stake in WeBuyCars, a used car platform that follows the purchase of an additional 25% stake for 1.6 billion rand (US$116 million). The sale agreement is conditional on the approval of the South African Competition Commission (CCSA). Once finalized, it will allow Transaction Capital to take control of the company founded in 2001 by brothers Faan and Dirk van der Walt. They would retain a minority share of 25.1% via family trusts. “The performance of WeBuyCars confirms Transaction…

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