FINWIRES · TerminalLIVE
FINWIRES

SoftBank-Backed Automotive Marketplace Carro Buys Australia's CarPlace

By

Singapore-headquartered automotive marketplace Carro has acquired Australian used-car platform CarPlace from Autoleague, according to a company release on Thursday.

Under the deal, Autoleague will retain a stake in CarPlace and become an investor in Carro.

The acquisition will give Carro access to showrooms in Western Australia and Queensland, while also enabling it to launch wholesale operations in Victoria.

The transaction expands Carro's presence to eight markets as part of its global expansion strategy.

Carro is backed by investors including SoftBank Group (TYO:9434), Cool Japan Fund and Temasek.

Related Articles

Asia

ASE Technology Unit to Buy Operational Facilities Worth NT$652 Million; Shares Rise 3%

ASE Technology (TPE:3711) unit ASE Test will acquire operational facilities from Verizon Construction for NT$651.9 million, according to a Wednesday Taiwan Exchange filing.Shares gained 3% in Thursday's late morning trade.The acquisition will support the company's manufacturing operations, it said.

TPE:3711
Asia

First REIT Defends Move to Sell Indonesia Assets to Siloam

First REIT (SGX:AW9U) said the proposal to divest its Indonesian hospital assets to Siloam International Hospitals for SG$471.5 million is the best available offer, according to a filing with the Singapore Exchange on Wednesday.The statement was a response made to unitholders seeking clarification on the terms of the proposed deal.The REIT said it will be hard to find a different buyer for the Indonesian portfolio as Siloam has been its tenant and operator. It also said the consideration represents a premium of approximately 2.1% over the average of the two independent valuations of the assets.

SGX:AW9U
Asia

Sims Fiscal 2026 Outlook Beats Consensus on US Scrap Conditions, Jefferies Says

Sims (ASX:SGM) is expected to benefit from stronger US scrap recycling market conditions and expanding earnings opportunities in its Sims Lifecycle Services (SLS) business, driving significant upgrades to earnings forecasts, according to a Wednesday note from Jefferies.Jefferies said the company's fiscal 2026 guidance was around 15% above consensus at the midpoint, driven by stronger North American metals operations and SA Recycling joint venture, while SLS was largely in line with expectations.The investment firm raised its fiscal 2026 earnings before interest and taxes (EBIT) forecast 14% to AU$427 million, in line with guidance, citing stronger US trading conditions, higher ferrous scrap margins, and improved non-ferrous pricing.Jefferies expects SLS EBIT to stay above AU$200 million through at least fiscal 2030, with growth driven by graphics processing unit and DDR5 decommissioning cycles starting around 2028, offsetting declines in DDR4.The investment firm raised SLS EBIT forecasts by more than 50% from fiscal 2027 onwards, citing stronger expected margins and a gradual ramp in volumes from fiscal 2028.The investment firm kept its mid-cycle EBIT estimate for the company at about AU$500 million, despite the upgrades and revised long-term assumptions.Jefferies upgraded Sims to hold from underperform and raised its price target to AU$31 from AU$19.Sims' shares were down about 1% in recent Thursday trade.

ASX:SGM