
EBay has agreed to sell part of its stake in Norway’s Adevinta to private equity firm Permira for US$2.25 billion in cash, clearing the way for a tie-up between eBay and Adevinta’s classified ads businesses.
The deal comes after Austria’s Federal Competition Authority demanded eBay cut its holding in Adevinta to no more than 33% to approve their plan to create a world leader in classified ads.
Approval in Austria, which had raised concerns about the impact on competition in its market, was the last regulatory hurdle for the tie-up.
“The transaction announced today with Permira provides a clear path to satisfying this commitment, while delivering value to eBay shareholders,” the US e-commerce giant announced on Wednesday, July 14.
EBay will sell 125 million Adevinta shares, or a 10.2% stake, to Permira, leaving the US firm with a 34% holding. Permira has a 30-day option to buy an additional 10 million shares at the same price, reducing eBay’s stake to 33%.
Last year, Adevinta agreed to buy eBay’s Classifieds Group in return for US$2.5 billion in cash and 540 million shares, valuing the transaction at about US$13 billion at current stock market prices.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
OpenAI Board Denies Receiving Formal Bid from Elon Musk
Feb 12, 2025 by
CPI
Thomas Kauper, Former DOJ Antitrust Leader, Dies at 89
Feb 12, 2025 by
CPI
BlackRock’s Acquisition of Preqin Secures UK Regulatory Approval
Feb 12, 2025 by
CPI
NFL Sued Over Bluesky Ban by Fans Citing Antitrust Violations
Feb 12, 2025 by
CPI
Warburg Pincus Strikes $1 Billion Deal to Acquire Vermont Information Processing
Feb 12, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon