At the beginning of the month, the shareholders of Trade Me, a New Zealand auction and classified site, had voted in favour of a takeover offer from Apax Partners, a British private equity firm, on the 3rd of April at the Special Shareholder Meeting in Wellington.
They set up a shell company in New Zealand “Titan” for the purposes of this acquisition.
The High Court hearing scheduled for the 16th of April is the last hurdle for Titan and this is expected to go smoothly. After which time, Trade Me will delist from the ASX and NZX in May and Titan will own them.
What do merchants need to do?
Nothing in particular. Trade Me will continue to work with us as they always have and have told us there are no changes planned.
How Intelligent Reach can help
Product data optimisation and management is vital if brands and retailers want to appear higher for more relevant searches on marketplaces such as Trade Me.
Get in touch with us if you’d like to learn how we can help with marketplace management.