OSLO, NORWAY: Adevinta ASA has completed the sale of Gumtree UK and Motors.co.uk to a consortium consisting of O3 Industries, a New York-based family investment fund, and Novum Capital, a private equity firm based out of Frankfurt. The sale is part of a previous agreement with the UK’s Competition and Market Authority (CMA) for approval…
OSLO: Adevinta ASA has confirmed that the UK Competition and Markets Authority (CMA) has announced that it has concerns that Adevinta’s proposed acquisition of eBay Classifieds Group from eBay Inc could reduce competition in the UK, following its Phase 1 review. Adevinta and eBay now have the opportunity to propose potential remedies to avoid the…
OSLO: Adevinta ASA has launched an offering of approximately EUR 1.06 billion aggregate principal amount of senior secured notes, consisting of notes due 2025 and 2027, a news release said. Adevinta previously announced its plans to syndicate a new senior secured Term Loan B facility consisting of a EUR900 million EUR-denominated tranche and a $500…
OSLO: Adevinta ASA, a global online classifieds specialist, has signed an agreement for the sale of its online classifieds businesses Avito in Morocco; Tayara in Tunisia and Fincaraíz in Colombia to Frontier Digital Ventures (FDV), a news release said. All three sites hold leading market positions in their respective geographies. FDV specialises in developing online…