Andy Nurman
August 12, 2023
Astra International, the Indonesian conglomerate, has successfully acquired OLX Indonesia, an online classifieds company.
Astra, via its subsidiaries, now holds full ownership of OLX Indonesia. Astra Digital Mobil possesses 99.98% of OLX Indonesia’s shares, while Astra Digital International holds the remaining 0.02%.
Astra Digital Mobil’s co-CEO and executive director, CK Yap, mentioned that OLX Indonesia will operate independently within Astra’s existing used-car ecosystem, which includes Mobbi, Mobil88, and Setir Kanan. The plan is to maintain the OLX brand, given its importance in fortifying the used-car ecosystem.
Our Thoughts
Astra has positioned itself as a strong contender to Carro and Carsome. Although the specific financial details of the acquisition are undisclosed, the decision to maintain the acquired company as a distinct entity can be seen as a strategic move to preserve the brand’s value and recognition in the market. It also avoids the risk of diluting the brand’s identity and market position through integration.
