Norwegians buy eBay ad division

Norwegians buy eBay ad division

Adevinta has purchased eBay's classified ads department. The online daughter of Norwegian media group Schibsted now gets a strong foothold in the Benelux, through and


Minority share

The Norwegians have offered 9.2 billion dollars (just shy of 8 billion euros) for its new prey in a mixture of cash and shares, meaning eBay will retail a minority share in its former ads branch, The Wall Street Journal reports. The accepted offer was the best of many, because - amongst others - TPG, Blackstone Group, Naspers, German publisher Axel Springer and Dutch investment fund Prosus had reportedly shown an interest.


The classified ads branch had a Q1 turnover of 248 million dollars (210 million euros) and was believed to be worth 'just' 8 billion dollars (7 billion euros). Activist shareholders had been putting pressure on eBay to sell some of its assets and focus on its core business - resulting in the sale of ticket resale company StubHub to Viagogo last year.