The Norwegian online ad specialist Adevinta, parent company of Leboncoin, announced on Tuesday the acquisition of the assets of the American giant eBay in this field for nearly 9.2 billion dollars (more than 8 billion euros).
To take control of eBay Classified Groups, which includes the Gumtree and Kijiji sites in particular, Adevinta will pay eBay $ 2.5 billion in cash and 540 million shares, or 44% of its capital, says the company. Norwegian in a statement.
An online classifieds giant
"With the acquisition of eBay Classifieds Group, Adevinta becomes the largest online classifieds company in the world," said group CEO Rolv Erik Ryssdal. Together, according to Adevinta, the two groups will be leaders in 20 countries, representing a total population of one billion and three billion monthly visits. Their combined turnover is $ 1.8 billion for the year 2019.
Born last year from a split from the media group Schibsted, which until now remained its majority shareholder with around 59% of the capital, Adevinta is already present in 15 countries in Europe, Latin America and North Africa. If its stake will drop to 33% of the ordinary shares after the transaction, Schibsted will remain the main master on board, at least initially, with around 39.5% of the voting rights while those of eBay will be capped at 33.3%. The operation must be completed by the first quarter of 2021.
Half of the turnover in France for Adevinta
Note that France, where it owns Leboncoin and L'Argus, among others, currently represents around half of Adevinta's overall turnover and most of its profits. Besides Gumtree and Kijiji, eBay's online classifieds branch includes sites like Mobile.de, Marktplaats, Automobile.it, Motors.co.uk, Autotrader and Carsguide in Australia, and eBay Kleinanzeigen.
Schibsted directly takes over eBay's classifieds business in Denmark for $ 330 million.
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