EBay sells its online ad unit to Adventa for $ 9 billion

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Ahmed Badr –

Informed sources said to the US Bloomberg Agency, that the electronic payment giant EBay is about to reach an agreement to sell its classified electronic ad unit to the Norwegian marketing company Adevinta ASA for 9 billion dollars.

According to the sources, who declined to be identified due to the privacy of the information, the deal will give «eBay» a small stake in the combined group, pointing out that the matter can be announced soon, especially after trading in the shares of the Norwegian company was stopped, on Monday morning, in Waiting for a statement or announcement.

Bloomberg reported that Adventa was competing with e-commerce firm Prosus NV, a separate private equity association backed by Blackstone Group, Permira and Hellman & Friedman, indicating that the deal would add to about $ 240 billion in deals announced in the technology industry this year.

The agency quoted other sources, saying that EBay decided at a board meeting on Friday that it would prefer to retain a stake in classified ads.

The spread of the Covid-19 epidemic accelerated the transition to e-shopping patterns in several markets, as non-virtual stores closed their doors temporarily or permanently. Adventa plans to continue its expansion projects in the sector.

Norwegian group CEO Rolly Erik Risdal said in a statement that Adventa’s acquisition of eBay Classifieds Group makes it the largest electronic classifieds group in the world, as it has some of the most prominent brands in the field.

Adventa operates in 15 countries in Europe, Latin America and North Africa.

The Norwegian group indicated that the company that will emerge from the acquisition will benefit from a strong position in the markets of twenty countries that include one billion people with three billion electronic visits per month.

The spread of the Covid-19 epidemic accelerated the transition to e-shopping patterns in several markets, as non-virtual stores closed temporarily or permanently. Adventa plans to continue its expansion projects in the sector.



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