Adevinta, a group listed on the Oslo Stock Exchange, born from Schibsted’s split to manage the online marketplace business, has reached an agreement to acquire the eBay Classifieds Group’s business for about 9,

As reported on the Borsa Italiana website, according to the terms of the agreement, eBay will receive $2.5 billion in cash and about 540 million shares of Adevinta, equivalent to a share of 44% of the new group.

The transaction is scheduled to be closed by the first quarter of 2021 and is subject to the approval of the Dutch Works Council of the eBay Classifieds Group, regulatory approvals and usual closing conditions.

Following the transaction, Schibsted’s share in Adevinta will fall to about 33% from 59%.

Adevinta owns brands like Leboncoin, a French site of online ads and like the Brazilian OLX, as well as dozens of others in Europe, the Americas and North Africa.

The combined financial profile estimates revenues of 1.8 billion dollars and almost 600 million EBITDA for 2019.

eBay Classifieds Group manages ads on major international markets in 13 countries, and includes the brands, Gumtree, Marktplaats, dba, Bilbasen, Kijiji, 2dehands, 2 United Kingdom, Autotrader (Australia), Carsguide (Australia) and eBay Kleinanzeigen.

L’attività has recorded an operating result of 83 million dollars on a turnover of 248 million dollars in the first trimester of 2020. The operation is expected to end by the first quarter of 2021 and aims at EUR 150-185 million of annual synergies within three years.

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