PE giants dealt blow in eBay classifieds unit takeover amid reports Adevinta nearing $9bn deal

420

Private equity giants attempting to take over eBay’s classified advertising unit have been dealt a blow amid reports the web auction titan is nearing a $9bn sale to Norwegian trade player Adevinta.

Blackstone, Permira and Hellman & Friedman have teamed up for a consortium bid for unit, which reports last week said could sell for up to $10bn.

The buyout trio were said to be up against Adevinta and online retailer Prosus in a Reuters report.

Bloomberg is now reporting that eBay is close to a cash-and-stock deal with Adevinta, which could see the e-auction business keep a significant minority stake in the combined group.

It said that eBay had decided at a Friday board meeting that it would prefer to keep a stake in the classifieds unit, whereas the PE and Prosus offers were all-cash deals.

Copyright © 2020 AltAssets

Get the latest PE News & Research delivered to your inbox every morning