M&A

M&A

Used car marketplace Spinny to acquire Haymarket’s automotive titles in India

Company Announcement   What Car? India  

Gurugram-headquartered Value Drive Technologies, the parent company of used car trading unicorn Spinny, has acquired Haymarket SAC a joint venture between UK-based Haymarket and the Sorabjee Family (led by Hormazd Sorabjee and Naheed Sorabjee) in a cash-and-equity deal. The target’s automotive brands include Autocar India , Autocar Professional , and What Car? India .Post acquisition, both Hormazd and Naheed will serve as Non-Executive Directors on Haymarket Media India’s board.