Davis Polk is advising Greenhill & Co., LLC as financial adviser to Gannett Co., Inc. in connection its acquisition of the 73% interest it does not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 billion in cash. The transaction, which is subject to regulatory approval and other customary closing conditions, is expected to be completed in the fourth quarter of 2014.
Gannett is an international media and marketing solutions company that informs and engages more than 110 million people every month through its network of broadcast, digital, mobile and publishing properties. Cars.com allows consumers to search, compare and connect with sellers and dealers, and provides buyers with greater control over the shopping process.
The Davis Polk corporate team includes partner John H. Butler and associate Faizan A. Tukdi. All members of the Davis Polk team are based in the New York office.