Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising KAR Auction Services, Inc. (KAR), a global automotive remarketing and technology services company, on the acquisition of the Belgium-based CarsOnTheWeb group (COTW).

COTW provides online auction services in the wholesale second-hand vehicle sector, connecting OEMs, fleet owners, wholesalers and dealers through its web platform.

This is KAR’s third consecutive acquisition in Europe on which Freshfields has acted for it, and follows its acquisitions of HBC Vehicle Services and the vehicle remarketing business of Greenhous Group Limited.

Completion of the transaction is conditional on the receipt of regulatory approvals in Bulgaria and Poland, and is expected to close in Q1 2019.

The Freshfields team is being led by partner Tim Wilmot and  colleagues based in our offices in Brussels, Berlin and Amsterdam.