Adevinta’s price has halved since eBay’s violent purchase of the company in June 2021. Now eBay is selling to get less than a 33% ownership in the Norwegian classifieds giant.
eBay sold just over 1 million A shares of Adevinta at an average price of NOK 76.97 per share. share, according to a stock market announcement.
This gives a total of NOK 77 million.
The sale is a natural part of a sale that has already been announced in connection with Adevinta’s acquisition of eBay’s classifieds business. Settlement was effected partly in cash and partly in Adevinta shares.
Austrian authorities have required eBay to hold less than 33% ownership of Adevinta in order for the acquisition to be completed for competitive reasons.
After the stock sale, eBay will hold a total of 345 million A shares — approximately 29.6 percent of A shares — and associated voting rights, and 59.3 million B shares.
In total, eBay thus owns 404.2 million shares of the company – about 32.99% – of Adevinta’s outstanding shares – as far as within the regulatory requirements set by the Austrian competition authorities.
The giant holds 29.6 percent of the voting rights. eBay is represented on the Adevinta board with Marie Oh Huber and Mark Solomons.
