Deals
Carousell Hits $850 Million Value With Telenor Unit Merger
- The equity and cash deal gives Telenor 32% in combined company
- Telenor’s 701Search has business in Malaysia, Myanmar, Vietnam
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Carousell, a Singapore-based online marketplace that lets people buy and sell second-hand goods, has agreed to combine with Telenor ASA’s 701Search in a deal that values the merged company at more than $850 million.
Carousell will absorb 701Search, which owns online marketplaces in Malaysia, Vietnam and Myanmar, as part of the equity and cash deal, according to a statement Thursday. Telenor will invest $20 million into Carousell and become the single largest minority shareholder with a 32% stake in the combined company.