BERLIN: German used-car dealing platform Auto1 said a 460 million euro (US$561mil) financial infusion from Japan’s SoftBank meant it was under no pressure to launch an initial public offering to fund its pan-European growth plans.
Softbank, through its Vision Fund, will make around half of its investment via new shares, valuing Auto1 at 2.9 billion euros and supporting the auto trader’s international expansion.
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