At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
With trusted brands that enjoy leading market positions, Adevinta operates a resilient business model at the centre of the second-hand economy at the time when consumers are seeking more sustainable and cost-efficient ways to buying products.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
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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 €44bn. 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.
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Investor Relations contacts:Marie de Scorbiac / Anne-Sophie Jugeanir@adevinta.com
About AdevintaAdevinta 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.
About eBayeBay 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 globalportfolio of online brands, visit www.ebayinc.com
About PermiraPermira 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 (€44bn) 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.
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