Adevinta Acquired eBay Ad Classifieds business for $9.2 billion
SAN JOSE, Calif., July 23, 2020-- Adevinta acquire eCommerce company eBay's classified ad business for $9.2 billion in a cash and stock deal.
As part of the transaction, eBay will receive $2.5 billion in cash and approximately 540 million Adevinta shares which would represent an equity stake of approximately 44% based on the number of Adevinta's outstanding shares, as of the end of the second quarter, and a ~33.3% voting stake.
This sale creates short-term and long-term value for shareholders and customers while allowing us to participate in the future potential of the Classifieds business.
Adevinta is a global online classifieds specialist, currently operating in 15 countries, with a portfolio that spans 35 digital products and websites. eBay's Classifieds platforms include a co...