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A consortium consisting of, among others, the investment funds Blackstone and Permira has come up with a non-binding proposal to take over the shares in the classifieds company Adevinta.
– Ebay and Schibsted, who have expressed their support for the proposal, will retain part of their current share in the company, says Anne-Sophie Jugean in the investor department at Adevinta in a stock exchange announcement.
Bloomberg was first out with rumors about the takeover on Thursday evening.
Adevinta was separated as a separate company from Schibsted in 2019, and in 2020 the company acquired Ebay’s classifieds business in a deal worth NOK 85 billion.
– The talks are in an early phase, and no guarantee can be given that a final offer will be made, or what the conditions for any offer will be, writes Adevinta.
Adevinta advises shareholders to refrain from taking actions with the shares that could be harmful to their interests, and to exercise caution when dealing with the company’s shares.
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Schibsted confirms participation in a consortium of financial investors regarding a potential bid for all the shares in companies.
– The current discussions are in accordance with the alternative possibilities for Schibsted’s ownership in Adevinta that have previously been communicated to the financial markets, writes Schibsted in a stock exchange announcement, adding that no guarantee is given of a final offer, or what the conditions for such offer will be.
The discussions are in an early phase, and no guarantee can be given that a final offer will be made, or what the terms of any offer will be.
Adevinta owns a number of digital marketplaces around Europe within, among other things, the property, used car and employment markets, and today has a market value of exactly NOK 100 billion. But the market value has fallen by more than 50 percent since the peak in the summer of 2021 after several years of weak results.
After the agreement with Ebay in 2020, the American company ended up owning around 44 percent of the shares in Adevinta. But around one year later, in July 2021, Ebay sold a large share of its Adevinta shares to Permira. Permira therefore currently owns around 11 per cent of the shares in Adevinta, making it the third largest owner.
According to Bloomberg, neither representatives from Blackstone nor Permira will comment on the information. (Terms) Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.
2023-09-21 20:03:44
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