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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| eBay Inc | NASDAQ:EBAY | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.14 | 0.27% | 51.08 | 51.08 | 51.09 | 51.33 | 50.70 | 51.01 | 1,360,921 | 17:11:08 |
From Apr 2021 to Apr 2024
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)
Copyright (c) 2021 Dow Jones & Company, Inc.
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