Openlane Inc (NYSE:KAR)
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KAR Auction Services Inc Sale of ADESA US Physical Auction Business to Carvana Call Transcript

Feb 25, 2022 / 01:30PM GMT
Release Date Price: $18.94 (+38.35%)
Operator

Good day, ladies and gentlemen, and thank you for standing by. Welcome to the KAR Auction Series (sic) [Services] Inc. conference call. (Operator Instructions) As a reminder, this conference call is being recorded. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Eric Loughmiller. Sir, please begin.

Eric M. Loughmiller
KAR Auction Services, Inc. - Executive VP & CFO

Thank you. Good morning, everyone, and thank you for joining us today for our conference call. Today, we will discuss our announcement to sell the ADESA U.S. physical auction business to Carvana. After concluding our commentary, we will take questions from participants. We have scheduled this call for 30 minutes and hope to get all of your questions in during that time frame.

Before Peter kicks off our discussion, I would like to remind you that this conference call contains forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward

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