Prosus Unit OLX to Buy French Auto Trader in $1.3 Billion Deal

Prosus NV-owned OLX Group BV is buying French online auto trader La Centrale for €1.1 billion ($1.3 billion) to expand its business into Western Europe.

Amsterdam-based OLX is acquiring the French company from Providence Equity Partners in an all-cash deal that is expected to close before the end of the year, OLX Chief Executive Officer Christian Gisy said in an interview.