eBay: sells classifieds business to Adevinia
(CercleFinance.com) - eBay has announced the sale of its classifieds business to Adevinta, an online classified ad specialist that currently operates in 15 countries, for a total consideration of 9.
2 billion dollars, in cash and shares.
The US Internet auction giant will receive 2.5 billion billion in cash and about 540 million Adevinta shares, which would represent around a 44% stake in the company's capital (and one third of its voting rights).
The transaction remains subject to customary closing conditions, including approval from Adevinta's shareholders and regulatory authorities. eBay expects the deal to close in the first quarter of 2021.
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