EBay Inc. is selling its classifieds business to Norway's Adevinta in a deal worth US$9.2 billion that will create the world's largest online classifieds group, the companies said Tuesday. The combined company will have classified ad websites in 20 countries, covering 1 billion people and receiving about 3 billion monthly visits. "With the acquisition of eBay Classifieds Group, Adevinta becomes the largest online classifieds company globally, with a unique portfolio of leading marketplace brands,'' Adevinta Chief Executive Rolv Erik Ryssdal said. EBay's classified brands include Gumtree in Australia and the U.K., Marktplaats in the Netherlands, Mobile.de in Germany, Vivanuncios in Mexico and Canada's Kijii. Adevinta ASA owns Leboncoin.fr, France's biggest online classifieds site, and classified businesses in more than a dozen other countries in Europe, North Africa and Latin America.

Source: The Standard July 21, 2020 11:15 UTC