21 July 2020 Last Updated at 4:47 pm | Source: PTINorway''s Adevinta buys eBay classifieds unit in $9.2 billion dealLondon, Jul 21 (AP) EBay Inc is selling its classifieds business to Norway''s Adevinta in a deal worth $9.2 billion that will create the world''s largest online classifieds group, the companies said on Tuesday. Under the terms of the deal, the US company will get $2.5 billion in cash and become the largest shareholder in Adevinta, with a 44% equity stake and a third of the voting rights. 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 CEO Rolv Erik Ryssdal said. 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 North Africa Journal July 21, 2020 11:15 UTC