Indonesian conglomerate Astra completes acquisition of OLX local unit

Astra International / Photo credit: Astra International

Indonesian conglomerate Astra International has completed the acquisition of online classifieds firm OLX Indonesia, the former announced at a press conference in South Tangerang earlier today.

Astra, through its subsidiaries, now fully owns OLX Indonesia. Astra Digital Mobil owns 99.98% of OLX Indonesia’s shares, while Astra Digital International holds 0.02%.

OLX operates an automotive classifieds unit under the name OLX Autos, alongside several other categories such as electronics, fashion, households, and property, which is managed by Lamudi Indonesia.

CK Yap, co-CEO and executive director of Astra Digital Mobil, said that OLX Indonesia will operate independently within Astra’s existing used-car ecosystem, which also includes Mobbi, Mobil88, and Setir Kanan.

“We have no intention of rebranding OLX, as its brand equity is important in strengthening our used-car ecosystem,” he said.

By acquiring OLX and its automotive arm, Astra is doubling down on the used-car segment and competing with notable players such as Carro, Carsome, Carmudi, and Moladin.

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