Adevinta — M&A Activity 2021

Feb 16, 2021

Adevinta ASA (ADE) - Proposed Acquisition of eBay Classifieds Group: Update from the UK Competition & Markets Authority

Adevinta ASA (ADE) - Proposed Acquisition of eBay Classifieds Group: Update from the UK Competition & Markets Authority

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN

OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR

ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN.

Oslo, 16 February 2021 - Today, Adevinta ASA (ADE) ("Adevinta" or the Company")

confirms that the UK Competition and Markets Authority (CMA) has announced that

it has concerns that Adevinta's proposed acquisition of eBay Classifieds Group

from eBay Inc ("eBay") could reduce competition in the UK, following its Phase

1 review.

Adevinta and eBay now have the opportunity to propose potential remedies to

avoid the transaction being referred to further investigation. While Adevinta

and eBay do not agree with the CMA's reasoning, they will work constructively

with the CMA and are confident in finding a suitable resolution.

Adevinta and eBay will together propose legally binding solutions to resolve the

CMA's competition concerns before the deadline of 23 February 2021. The CMA will

then have five working days to consider whether to accept the solutions, or to

refer the deal to an in-depth investigation. A further update will be provided

in early March following this decision.

In 2019, eBay Classifieds Group's UK business accounted for less than 10% of its

consolidated revenues and Adevinta's UK business accounted for only 1% of its

consolidated revenues.

Adevinta and eBay remain excited about the proposed transaction and look forward

to closing.

-Ends-

Notes to Editor

Contacts

Mélodie Laroche

Head of Corporate Communications

+33 (0) 6 84 30 52 76

melodie.laroche@adevinta.com (mailto:melodie.laroche@adevinta.com)

/press@adevinta.com (mailto:press@adevinta.com)

Marie de Scorbiac

Head of Investor Relations

ir@adevinta.com (mailto:ir@adevinta.com)

John Kiely / Latika Shah / Raeesa Chowdhury-King

Edelman Smithfield

+44 (0)7785 275665 / +44 (0)7950 671 948 / +44 (0)7885 802774

adevinta@edelman.com (mailto:adevinta@edelman.com)

About Adevinta

Adevinta is a global online classifieds specialist, operating digital

marketplaces in 12 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 includes more

than 30 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 is majority

owned by Schibsted ASA and employs 4,700 people committed to supporting users

and customers daily. Find out more at Adevinta.com (https://www.adevinta.com/).