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eBay To Divest Part Of Adevinta Stake To Permira For $2.2B

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eBay To Divest Part Of Adevinta Stake To Permira For $2.2B
  • eBay Inc (NASDAQ: EBAY) inked an agreement with Permira to sell 125 million shares of its stake in Adevinta ASA (OTC: ADEVF) for $2.25 billion. The price represents a 7% discount to the 10-day volume-weighted average price (VWAP) of Adevinta shares as of July 12.
  • The transaction is likely to close in Q4 2021.
  • It will reduce eBay's ownership stake in Adevinta from 44% to 34%.
  • eBay has granted Permira a 30-day option to purchase 10 million additional shares.
  • eBay agreed to reduce its ownership in Adevinta as ordered by the Austrian regulators.
  • Price action: EBAY shares closed lower by 0.33% at $68.74 on Tuesday.
 

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