Used car company Carvana has agreed to acquire ADESA U.S. physical auction business from KAR Global, a digital marketplace platform for wholesale used vehicles, for $2.2 billion. The transaction, announced Feb. 24, is expected to close in the second quarter of 2022. KAR, which is based in Carmel, Indiana, was advised by a Skadden, Arps, Slate, Meagher & Flom team that included partners Todd Freed, Dohyun Kim, Steven Messina and Dwight Yoo. Tempe, Arizona-based Carvana was represented by Kirkland & Ellis.
February 24, 2022, 5:38 PM