LONDON (AP) – EBay Inc. is selling its classifieds business to Norway’s Adevinta in a deal worth $9.2 billion that will create the world’s largest online classifieds group, the companies said Tuesday.
Under the terms of the deal, the U.S. company will get $2.5 billion in cash and become the largest shareholder in Adevinta, with a 44% equity stake and a third of the voting rights.
The combined company will have classified ad websites in 20 countries, covering 1 billion people and receiving about 3 billion monthly visits.
â€œWith the acquisition of eBay Classifieds Group, Adevinta becomes the largest online classifieds company globally, with a unique portfolio of leading marketplace brands,â€ Adevinta CEO Rolv Erik Ryssdal said.
EBay’s classified brands include Gumtree in Australia and the U.K., Marktplaats in the Netherlands, Mobile.de in Germany, Vivanuncios in Mexico and Canadaâ€™s Kijii.
Adevinta ASA owns Leboncoin.fr, France’s biggest online classifieds site, and classified businesses in more than a dozen other countries in Europe, North Africa and Latin America. It was spun off last year from Norwegian media company Schibsted.