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Adevinta buys eBay's classifieds unit in $9.2 billion deal

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Ebay Inc has agreed to sell its classified ads business to Norwegian group Adevinta in a deal worth $9.2 billion, creating the world's largest classifieds group, the companies said on Tuesday.

) has agreed to sell its classified ads business to Norwegian group Adevinta ADEV.OL in a deal worth $9.2 billion, creating the world’s largest classifieds group, the companies said on Tuesday.

Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44% stake of the pro forma company, they said. The company will have market presence in 20 countries, covering one billion people with three billion visits every month.

 

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WSJ News Exclusive | EBay Nears Deal to Sell Classified-Ads Unit to AdevintaEBay is in advanced talks to sell its classified-ads business to Norway’s Adevinta, according to people familiar with the matter, as the online auction pioneer seeks to refocus on its core marketplace business.
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