Today, eBay Inc. announced it completed the sale of its classified business to Adevinta, which SIA ranks as the world’s 25th-largest job board operator. EBay’s global network of classified ad websites include ads for cars, real estate and jobs. In North America, its Kijiji website in Canada includes job ads while its websites Gumtree and Marktplaats provide job advertising in other parts of the world.
“This is a game-changing transaction for Adevinta, making us the world’s leading online classifieds group with leading market positions in 16 countries,” Adevinta CEO Rolv Erik Ryssdal said.
In the deal, eBay received $2.5 billion in cash and a 44% equity stake in Adevinta, equivalent to approximately 540 million shares.
However, eBay also agreed to reduce its ownership stake in Adevinta to 33% or less over the next 18 months as part of the remedies it proposed to resolve competition concerns raised by Austrian regulatory authorities.
The deal was first announced on July 21, 2020.
Adevinta’s global job boards include LeBonCoin, Infojobs, Talents, Blocket and OLX Brazil joint venture. Adevinta is based in Oslo, Norway.
For more on the transaction, see this story in the Europe, Middle East and Africa edition of the Staffing Industry Daily News.