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Adevinta — Share Issue/Capital Change 2021
Jul 14, 2021
3520_iss_2021-07-14_2141a6d7-7489-431e-ac60-e3d199354274.html
Share Issue/Capital Change
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Adevinta ASA (ADE) - Adevinta welcomes new strategic investor
Adevinta ASA (ADE) - Adevinta welcomes new strategic investor
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.
* eBay to sell a 10.2% stake in Adevinta to funds advised by global private
equity firm Permira
* Permira Partner Dipan Patel to be appointed to the Adevinta Board of
Directors
Oslo, 14 July 2021 - Adevinta ASA (ADE) ("Adevinta" or the "Company") today
welcomes the agreement between eBay Inc. ("eBay") and Permira, which will see
eBay sell approximately 125 million shares to funds advised by Permira. This
represents a 10.2% stake in Adevinta. On closing of this transaction, eBay will
own 415 million shares, representing a 34% stake in Adevinta, and Dipan Patel,
Permira Partner and Head of Consumer, will be appointed to Adevinta's Board of
Directors.
Permira is a global private equity firm focused on transformational growth at
scale. The firm advises funds with total committed capital of approximately
EUR44bn. Permira has an extensive track record in investing at the intersection of
consumer/prosumer and technology, having backed companies like Allegro, Mirakl,
Klarna, LegalZoom, Flixbus, Catawiki, Boats Group, The Knot Worldwide, and
Zwift.
Orla Noonan, Chair of the Adevinta Board, said: "We are pleased to welcome
Permira as a strategic shareholder in Adevinta and Dipan Patel to the Board of
Directors. They will bring their vast experience of integrating large-scale
projects to our acquisition of eBay Classifieds Group."
Rolv Erik Ryssdal, CEO Adevinta, commented: "Permira has a strong track record
in investing in both online marketplaces and the broader technology sector. We
are confident that Permira will be able to use this expertise to support
Adevinta in capturing further value for all shareholders and ultimately add to
our success as the global online classifieds leader."
Dipan Patel said: "We have long been admirers of Adevinta and are delighted to
make this investment. Adevinta is home to some of the most iconic online
classifieds brands, combining growth, scale, margin and economic resilience.
With leading positions in 16 countries covering one billion consumers, the
Company is situated right at the heart of the rapidly transforming auto, real
estate and jobs end markets, as well as the second-hand economy at a critical
juncture for sustainable commerce."
Stefan Dziarski, Permira Partner in Frankfurt, said: "Adevinta is early in the
development of its next generation business models for both its professional
customers and consumers. The Company's growth ambitions, and the expertise
required to deliver them, overlap perfectly with what Permira does best, and we
are thrilled to be partnering with a world-class management team and board to
realize the opportunity ahead."
eBay has additionally granted Permira a 30-day option to purchase an additional
10 million shares at the same price. If Permira exercises the option, eBay's
ownership in Adevinta will reduce to 33%.
The transaction is expected to close in Q4 2021, once requisite Foreign Direct
Investment approvals have been secured.
-ends-
Media contacts:
Mélodie Laroche
Head of Corporate Communications
T: +33 (0) 6 84 30 52 76
[email protected] (https://www.globenewswire.com/Tracker?data=zj7HI-
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qLfh7ivOg0IlNK4w8hzf2HoFc9Fitujbklv8JSeBByrW_eJNICBNXsrpAshrJw-X9-
HY7DUiwiiydWSDnCO-mfKBIkoA)
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])
Investor Relations contacts:
Marie de Scorbiac / Anne-Sophie Jugean
[email protected] (https://www.globenewswire.com/Tracker?data=jJh7GgFwEtnzVXPEBaf-
7w9PB88Y7ijsXVDAxFr9m5eu31EJvR7JdjknoisR-C0EpsAZYqZG-pdyH-PPjEGjCQ==)
About Adevinta
Adevinta is a global online classifieds specialist, operating digital
marketplaces in 16 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 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, Kijiji in Canada, fotocasa and
InfoJobs in Spain, and 50% of fast-growing OLX Brasil. Adevinta spun off from
Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta employs
around 7,000 people committed to supporting users and customers daily. Find out
more at Adevinta.com (http://www.adevinta.com).
About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader including the Marketplace
and Classifieds platforms. Collectively, we connect millions of buyers and
sellers around the world, empowering people and creating opportunity for all.
Founded in 1995 in San Jose, California, eBay is one of the world's largest and
most vibrant marketplaces for discovering great value and unique selection. For
more information about the company and its global
portfolio of online brands, visit www.ebayinc.com
(https://www.globenewswire.com/Tracker?data=svW2vxdB4_COHfVNIGpqA5_V9RjRWL8St32J
WjK3CuPf4TKRn1Bc4XrfVTGwl4W9TPW_TRSWchkplaGaec79GQ==)
About Permira
Permira is a leading global investment firm focused on growth at scale. Founded
in 1985, the firm advises funds with total committed capital of approximately
US$50bn (EUR44bn) and makes long-term majority and minority investments. The
Permira funds have made over 250 private equity investments in four key sectors:
Technology, Consumer, Services and Healthcare. Permira employs over 350 people
in 15 offices across Europe, North America, and Asia.
The Permira funds have an extensive track record in investing at the
intersection of consumer/prosumer and technology, having backed Allegro, Mirakl,
TeamViewer, Klarna, LegalZoom, Flixbus, Ancestry, Catawiki, Boats Group, The
Knot Worldwide, BestSecret, Zwift and Magento. For more information, visit
www.permira.com (http://www.permira.com/).