Adevinta Shares Surge on Potential Takeover Bid

by webmaster

Shares in eBay-backed Adevinta soared following the announcement that the Norwegian online marketplace company has received a takeover bid from a consortium led by Permira and Blackstone. While no financial terms have been disclosed, Adevinta confirmed that talks are in the early stages, and there is no guarantee that a final offer will be made.

Adevinta made headlines last year when it acquired eBay’s classified-ads business for $9.2 billion in cash and stock. As a result, eBay became the largest shareholder in Adevinta with a 33% stake. Additionally, as part of the deal, Norwegian media group Schibsted purchased eBay’s Danish classifieds business for $330 million and currently holds a 28.1% stake in Adevinta.

This potential takeover bid has propelled Adevinta’s shares to surge by 24% in morning trading, valuing the company at approximately $11 billion. Both eBay and Schibsted have expressed their support for the proposal and stated that they would retain a portion of their current shareholding if an agreement is reached.

As of Friday morning, Adevinta shares were trading at NOK106.20, while Schibsted shares rose by 14% to NOK250.40.

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