WeBuyCars acquires 49% stake in digital auction platform GoBid

WeBuyCars, through its wholly-owned subsidiary, has entered into agreements to acquire 49% of GoBid for an aggregate purchase consideration of R376,775,301. This includes a 40% acquisition from Taximart Proprietary Limited for R314,819,970, with an effective date of 22 December 2025. Additionally, a 9% stake is being acquired from Fledge, Aldusign, and Palamo for R61,955,331, effective 23 December 2025.

The acquisition supports GoBid's growth by increasing the volume of WeBuyCars vehicles routed through the platform, aligning with WeBuyCars' strategy to service the entire South African vehicle market. GoBid specializes in auctioning accident-damaged, uneconomic-to-repair, and second-hand vehicles.

As of 30 June 2025, the net assets corresponding to the 49% stake in GoBid were R13,752,511. The audited profits after tax attributable to this stake for the year ended 30 June 2025 amounted to R48,206,808. The transaction also includes call and put options for acquiring further shares, with a maximum purchase consideration of R1,058,400,000 under the Put/Call Agreement.