eBay Sells 125 Million Shares in Adevinta to Private Equity Firm Permira for $2.25 Billion

By Dominic Chopping

E-commerce company eBay Inc. said Wednesday that it has agreed to sell around 125 million of its shares in Adevinta ASA to private equity firm Permira for $2.25 billion.

The sale sees eBay's stake in Norway's Adevinta fall to 34% from 44%, with Permira having an option to buy a further 10 million shares for $180 million, which would bring eBay's stake down to 33%.

EBay last year agreed to sell its classifieds business to Norway's Adevinta ASA in a cash and stock deal worth $9.2 billion and has committed to reducing its stake in the Norwegian company to 33% in order to secure approval for the deal from Austrian regulators.

"The transaction announced today with Permira provides a clear path to satisfying this commitment, while delivering value to eBay shareholders and introducing an experienced, world-class growth investor to Adevinta's shareholder base," eBay said.

The sale of shares is expected to close in the fourth quarter of 2021.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

July 14, 2021 03:42 ET (07:42 GMT)

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