VIG buys Korean used car retailer for $97m
VIG Partners has agreed to acquire 100% of South Korea-based used car retailer and maintenance provider Autoplus for KRW110 billion ($97 million). The plan is to build the business into a local equivalent of CarMax, which is the leading player in the US used car market.
Of the total commitment, KRW50 billion comprises new shares and the capital will be used to grow the business. The rest will take out shares held by the founder and management, although the former, Deuk-Myung...
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