Adevinta Board of Directors unanimously supports the transaction, which is expected to deliver long-term value creation for all shareholders.As a result of the transaction, Schibsted’s ownership will decrease from 59% to c.33%.Schibsted, which currently owns 59% of Adevinta shares, and Stiftelsen Tinius, which currently owns 6% of Adevinta shares, have agreed to vote in favor of the transaction.Closing of the transaction is expected by Q1 2021, subject to shareholder approval in Adevinta and customary regulatory and closing conditions.Schibsted will acquire eBay Classifieds Group’s Denmark assets for US$330 million, reducing cash consideration from Adevinta to approximately US$2.17 billion.33.3% voting shares and the remainder non-voting shares 540 million shares of Adevinta at closing, representing a 44% stake in pro forma Adevinta, of which c. eBay to receive US$2.5 billion 3 of cash and c.Close cultural fit allowing the combined entity to pursue a shared vision and ensure a smooth integration.Significant synergy potential, with approximately US$150-185 million of anticipated run-rate EBITDA synergies by year three 2, two thirds of which expected from cost synergies.Strong combined financial profile, with estimated US$1.8 billion in revenues and close to US$600 million in EBITDA in 2019 1. Combined entity to benefit from solid market positions across 20 countries, covering one billion people with three billion monthly visits.Creation of a globally scaled, pure-play online classifieds leader with a diversified and complementary portfolio of assets and brands.Deal creates the world’s largest online classifieds group with an extensive footprint and leading marketplace brands
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