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Adevinta — M&A Activity 2021
Jun 2, 2021
3520_rns_2021-06-02_b1d4e944-0cf4-4ea3-8b86-062a3b0a3f49.html
M&A Activity
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Adevinta ASA (ADE) - Adevinta welcomes UK Regulatory Approval for the acquisition of eBay Classifieds Group
Adevinta ASA (ADE) - Adevinta welcomes UK Regulatory Approval for the acquisition of eBay Classifieds Group
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THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES
DESCRIBED HEREIN.
Oslo, 2 June 2021 - Following an announcement by the UK Competition and Markets
Authority ("CMA") today, Adevinta ASA (ADE) ("Adevinta") confirms that the CMA
has accepted the undertakings which have been proposed by Adevinta and eBay Inc
to resolve the competition concerns raised by the CMA. Consequently, the CMA has
approved Adevinta's acquisition of eBay Classifieds Group ("eCG") in accordance
with the terms of those undertakings, which comprise the divestment of each
company's primary classifieds operations in the UK: Shpock (in the case of
Adevinta) and Gumtree UK and Motors.co.uk (in the case of eCG).
Adevinta is also pleased to announce that it has reached an agreement to sell
Shpock to Russmedia Equity Partners ("Russmedia") and the transaction is
expected to close today. Russmedia plans to continue the development of Shpock
into a leading digital platform for classified advertising.
Adevinta continues to target completion of the acquisition of eBay Classifieds
Group in Q2 2021, subject to regulatory approval in Austria.
-End-
Notes to Editor
Media contacts
Adevinta
Mélodie Laroche
Corporate Communications
+33 (0) 6 84 30 52 76
[email protected] (mailto:[email protected])
Marie de Scorbiac
Investor Relations
[email protected] (mailto:[email protected])
John Kiely / Latika Shah / Raeesa Chowdhury-King
Edelman Smithfield
+44 (0)7785 275665 / +44 (0)7950 671 948 / +44 (0)7885 802774
[email protected] (mailto:[email protected])
About Adevinta
Adevinta is a global online classifieds specialist, operating digital
marketplaces in 9 countries. The company provides technology-based services to
connect buyers with sellers and to facilitate transactions, from job offers to
real estate, cars, consumer goods and more. Adevinta's portfolio spans 35
digital products and websites, attracting 1.3 billion average monthly visits.
Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios
in Spain, and 50% of fast-growing OLX Brazil. Adevinta spun off from Schibsted
ASA and publicly listed in Oslo, Norway in 2019. Adevinta employs 4,700 people
committed to supporting users and customers daily. Find out more at
Adevinta.com.
About Shpock
Shpock is a generalist (app-first) mobile online classifieds site that was
acquired by Schibsted in 2015. The mobile online classifieds site is turning its
focus from location-based discovery to a transactional classifieds site, with
categories ranging from electronics, fashion and furniture to specialised
verticals such as motor and real estate. Shpock is focusing its efforts on the
UK as it is winding down its activities in and will exit two other countries:
Germany and Austria. In 2019, Shpock had approximately 26 million listings in
the UK and since its launch in July 2015, Shpock has had 52 million total
downloads worldwide and had approximately 92% of traffic from mobile in 2019.
About Russmedia Equity Partners
Russmedia Equity Partners is an investor in and operator of online marketplaces,
aggregators, and SaaS solutions. Russmedia Equity Partners has over 20 years of
experience in successfully investing in and operating digital companies. The
company currently runs a profitable portfolio of 19 digital businesses across 6
countries in Europe. Headquartered in Schaan (Liechtenstein), Russmedia Equity
Partners is investing EUR100 million to significantly increase its commitment to
international digital growth. Russmedia Equity Partners is seeking long-term
partnership with management teams in order to empower sustainable businesses. It
focuses on strategic acquisitions and supports entrepreneurs throughout the life
cycle of their company.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act