Blackstone, Permira Explore Bid for eBay-Backed Adevinta

📆 9/21/2023 10:21 PM
📰 BNNBloomberg

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A consortium backed by Blackstone Inc. is exploring a potential acquisition of European online classifieds company Adevinta ASA in what would be one of the year’s biggest buyouts, people with knowledge of the matter said.

The investor group, which also includes European private equity firm Permira, has been studying a possible deal to take Adevinta private, the people said.

The Norwegian company bought eBay Inc.’s online classifieds business in a $9.2 billion cash and stock deal agreed to in 2021, beating out rival bidders including a consortium backed by Blackstone and Permira. That deal left eBay with a significant stake in Adevinta, part of which it later sold to Permira.

Adevinta’s portfolio includes the Leboncoin classifieds site in France, the Mobile.de car marketplace in Germany and the Fotocasa real estate portal in Spain. It also operates Willhaben, Austria’s biggest digital marketplace, as well as Subito in Italy, Kijiji in Canada and Gumtree in Ireland, according to its website.

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