Adevinta — M&A Activity 2022

Aug 25, 2022

Adevinta ASA (ADE) - Adevinta announces sale of Gumtree Australia, CarsGuide and Autotrader Australia

Adevinta ASA (ADE) - Adevinta announces sale of Gumtree Australia, CarsGuide and Autotrader Australia

Oslo, 25 August 2022 - Adevinta ASA has signed an agreement for the sale of

Gumtree Australia, CarsGuide and Autotrader Australia to The Market Herald

(https://themarketherald.com.au/about-us/) - a fast growing business and finance

media platform publishing in Australia, Canada and Germany - for a total cash

consideration of US$60m. This sale is part of Adevinta's strategy to focus on

driving growth in its five core European markets: Benelux, France, Germany,

Italy and Spain. The transaction is expected to close by the beginning of Q4

2022. The proceeds from the transaction will be used to improve Adevinta's

leverage ratios.

Adevinta's Australian portfolio includes three leading online classifieds

platforms:

Gumtree: An iconic online marketplace connecting seven million buyers and

sellers with  2.8m live listings across hundreds of categories, including cars

and vehicles, parts and accessories, home and garden, sport and fitness,

electronics and computers, clothing and jewellery, business services, real

estate, jobs and more.

Autotrader: An online automotive marketplace, launched in 2018. It has built the

second largest dealer network of customers in the country. Autotrader

incorporates tools to give buyers information and ultimately more confidence on

pricing.

CarsGuide: The leading automotive editorial website in the country, according to

Nielsen,  with content covering car reviews, news and advice produced by a team

of expert motoring journalists.

Adevinta's operations in Australia have been included in discontinued operations

since the third quarter of 2021.

"The decision to divest our operations in Australia follows a strategic review

to prioritise investment for growth in five core markets, in the pursuit of

reducing complexity and accelerating the execution of our strategy," commented

Antoine Jouteau, CEO Adevinta.  "We are confident that The Market Herald is well

positioned to create strong growth opportunities for Gumtree, CarsGuide and

Autotrader, given their keen focus and expertise in the local Australian market.

Adevinta will continue to support the Australian business and its employees

during the transition, ensuring business continuity for users and customers. We

congratulate The Market Herald on the acquisition and wish them continued

success."

Jag Sanger, Managing Director at The Market Herald, added: "The Market Herald is

excited to expand on the Gumtree, CarsGuide and Autotrader platforms. Gumtree is

an iconic brand, used by millions of Australians, CarsGuide is the leading

automotive editorial website in Australia and Autotrader is an online automotive

marketplace with the second largest dealer network in the country. The Market

Herald will leverage its editorial, video and streaming capabilities to create

new classifieds offerings with Gumtree, CarsGuide and Autotrader, leading to a

more relevant and compelling user experience.  We thank Adevinta for its support

during the transition to an integrated business, and look forward to welcoming

the Gumtree, CarsGuide and Autotrader teams to The Market Herald."

Macquarie Capital acted as financial adviser to Adevinta.

-end-

Media contacts

Vaishali Lakhanpal

Corporate Communications

T: +31 (0) 638 43 19 34

vaishali.lakhanpal@adevinta.com (mailto:vaishali.lakhanpal@adevinta.com)

Edelman Smithfield

John Kiely / Latika Shah / Olivia Adebo

John Kiely/ Latika Shah/ Olivia Adebo

T: +44 (0)7785 275665 / +44 (0)7950 671 948 / +44 (0)7787 284 441

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

About Adevinta

Adevinta is a leading online classifieds specialist, operating digital

marketplaces in 14 countries. The company provides technology-based services to

connect buyers with sellers and to facilitate transactions, from real estate to

motors, and consumer goods.

Adevinta's portfolio spans more than 40 digital brands, covering one billion

people and attracting approximately three billion average monthly visits.

Leading brands include top-ranked leboncoin in France, Germany's leading

classifieds sites mobile.de and eBay Kleinanzeigen, Marktplaats in the

Netherlands, fotocasa and InfoJobs in Spain, Subito in Italy, and 50% of fast-

growing OLX Brasil. Adevinta employs around 8,100 people committed to supporting

users and customers daily. Find out more at Adevinta.com

(https://www.adevinta.com/).

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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act