Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth US$9.2 billion, the companies said on Tuesday.
FILE PHOTO: The eBay logo is pictured on a phone screen in this photo illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/File PhotoOSLO: Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth US$9.2 billion, the companies said on Tuesday.
Ebay will receive US$2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44per cent stake of the pro forma company, they said.