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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: