July 21, 2020 / 7:24 AM / 25 days ago

Ebay sells classifieds business to Norway's Adevinta in $9.2 bln deal

OSLO, July 20 (Reuters) - Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth $9.2 billion, the companies said on Tuesday.

Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44% stake of the pro forma company, they said.

The transaction is expected to close by the first quarter of 2021.

Reporting by Nerijus Adomaitis; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below