eBay to sell its business unit to Adevinta for USD 9.2 bln

Thursday 23 July 2020 10:30 CET | News

eBay has revealed it reached a deal to sell off its Classifieds business unit to Adevinta, a Norway-based classified ads publisher majority owned by Norwegian publisher Schibsted.

The deal is valued at USD 9.2 billion, which includes eBay getting USD 2.5 billion in cash and 540 million Adevinta shares, which means that eBay becomes a 44% owner of Adevinta, with a 33.3% voting stake.

Its classified ads, payment services (PayPal, which got spun out as a separate company), and ticketing (Viagogo acquired its Stubhub business in a USD 4 billion deal in 2019) are no longer a part of eBay, as per TechCrunch. The deal is expected to be completed in Q1 of 2021, subject to regulatory and shareholder approvals.

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Keywords: Adevinta, acquisition, eBay, classifieds, ecommerce, payment services, regulations
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce