One of the largest global marketplaces eBay has sold its 125 million stakes in Adevinta for US$2.25 billion.
California, TechnoBusiness US (English Edition) ● eBay, Inc. (Nasdaq: EBAY), one of the world’s largest marketplaces based in San Jose, California, today announced its latest corporate action.
In the announcement, eBay said it had agreed to sell its 125 million shares in Adevinta (FRA: AD5B) to Permira, an investment company based in London, UK, for US$2.25 billion.
Adevinta is an international network of online classifieds sites that includes more than 40 brands operating in 16 countries. Adevinta attracts 1 billion visitors with 3 billion visits per month.
The online classifieds sites under Adevinta include Leboncoin in France, Mobile.de and eBay Kleinanzeigen in Germany, Marktplaats in the Netherlands, Kijiji in Canada, Fotocasa and InfoJobs in Spain, and OLX Brazil.
The sale of a portion of Adevinta’s shares from eBay to Permira is expected to be completed in the 4/2021 quarter. The transaction also reduces the percentage of eBay’s share ownership in Adevinta from the previous 44% to 34%.
If deemed not large enough, eBay gives Permira the option to buy about 10 million additional shares at the same price in the next 30 days to only 33%.●
—Philips C. Rubin, TechnoBusiness US ● Photo: Adevinta
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