Acquisition of eBay Classifieds Group by Adevinta creates the world´s largest online classifieds group
On the 21st of July 2020, Adevinta ASA (ADE) announced the signing of an agreement to acquire 100% of eBay Classifieds Holdings Inc, the global classifieds arm of eBay Inc, for a headline value of approximately 9.2 billion US dollars.
This deal leads to the creation of the largest online classifieds group in the world, with an extensive footprint and leading marketplace brands. The worldwide leading online classifieds company resulting from the transaction will have a market presence in 20 countries and a total of 3 billion visits every month.
International law firm Cleary Gottlieb represented Schibsted ASA, the current majority shareholder of Adevinta, and acted as a global antitrust counsel to Schibsted and Adevinta in the transaction. As part of the same deal, Schibsted will also acquire eBay Classifieds´ leading marketplaces DBA.dk and Bilbasen.dk in Denmark, for a consideration of 330 million US dollars. Once the transaction is completed, eBay and Schibsted will hold, respectively, a 44% and 33% shareholding in Adevinta.
“With the acquisition of eBay Classifieds Group, Adevinta becomes the largest online classifieds company globally, with a unique portfolio of leading marketplace brands. We believe the combination of the two companies, with their complementary businesses, creates one of the most exciting and compelling equity stories in the online classifieds sector", said Rolv Erik Ryssdal, CEO of Adevinta.
“This deal is a testament to the growth and potential of the eBay Classifieds business,” said Alessandro Coppo, SVP and GM, eBay Classifieds Group. “We are excited for our local classifieds brands to join Adevinta and shape a global leader in an industry full of potential".