Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 09.08.2021  
C(2021 ) 6025 final  
PUBLIC VERSION  
carsales Holdings US, LLC  
1209 Orange Street  
Delaware 19801 -Wilmington  
United States of America  
 
Subject : Case  M.10359 - CARSALES HOLDINGS / GOLDMAN SACHS / 
EURAZEO / OPEN ROAD  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 14 July 2021 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Carsales 
Holdings US, LLC (USA), controlled by carsales.com Limited (“Carsales”, Australia),  
The Goldman Sachs Group (“Goldman Sa chs”, USA)  and Eurazeo SE (“Eurazeo”, 
France) , acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger 
Regulation joint control over the whole of  Open Road Parent, LLC (“Open Road”, 
USA)  by way of purchase of shares .3 
2. The business activities o f the undertakings concerned are:  
 for Carsales: online automotive, motorcycle and marine classifieds business based 
in Australia with operations across the Asia Pacific region,  
 for Goldman Sachs : provision of global investment banking, securities and 
investment management services to corporations, financial institutions, 
governments  and high -net-worth individuals,  
 for Eurazeo : a global investment group with a diversified portfolio and focus on 
three asset classes: private equity, private debt and real estate,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p . 3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C  292, 22.07.2021 , p.2. 

2  for Open Road, through its subsidiary Trader Interactive, LLC (USA) : online 
marketplaces and related digital marketing solutions in the United States for the 
sale of vehicles and equipment.  
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (a) and (b) of the Commission Notice on a simplified procedure for 
treatment of certain concentrations under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and w ith the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .