Transaction Capital eyes majority stake and global expansion for WeBuyCars
Financier aims to expand the second-hand car platform internationally if bid to take control succeeds
Transaction Capital, one of SA’s largest financiers of minibus taxis, has begun negotiations to increase its minority stake in WeBuyCars that could cause it to take control of one of the country’s largest second-hand car businesses and possibly expanding it internationally.
The company issued a cautionary statement on Wednesday that alerted shareholders to negotiations that could cause it to increase its stake to 74.9% from 49.9%, just a year after it acquired its stake. ..