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

July 14, 2021 6:05 AM | 1 min read | Make a Comment

eBay Inc EBAY inked an agreement with Permira to sell 125 million shares of its stake in Adevinta ASA 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.