Blackstone and Permira Bid for Adevinta
Posted on 11/22/2023
Permira Advisers LLP and Blackstone, through Aurelia Bidco Norway AS, inked a deal to acquire all the outstanding ordinary class A shares in online classifieds group Adevinta ASA, a listed company. Other investors in the buying group include General Atlantic and TCV. The deal will be settled with NOK 115.0 per share in cash. The deal is for about 141 billion Norwegian crowns (US$ 13.1 billion),
The Board of Adevinta has been informed that the offeror has entered into agreements separately with each of the investors, as well as eBay Inc. and Schibsted ASA pursuant to which, when such agreements become effective, the investors, eBay and Schibsted will become owners of companies that indirectly will control the company upon a closing of the offer.
eBay, Schibsted and Permira are the company’s largest shareholders, holding approximately 33.0%, 28.1% and 11.2% of the share capital of the Adevinta, respectively.
Adevinta engaged Citigroup Global Markets Europe AG and J. P. Morgan Securities Plc as financial advisers, and Advokatfirmaet BAHR AS, Cleary Gottlieb Steen & Hamilton LLP and Skadden, Arps, Slate, Meagher & Flom (UK) LLP as legal advisers.
Advisors
Citigroup Global Markets Europe AG and J.P. Morgan Securities Plc are acting as financial advisers and Advokatfirmaet BAHR AS, Cleary Gottlieb Steen & Hamilton LLP and Skadden, Arps, Slate, Meagher & Flom (UK) LLP are acting as legal advisers to the Adevinta.
Keywords: Blackstone Group LP.
