GlobeNewswire

Adevinta ASA (ADE) - Adevinta welcomes new strategic investor

Share

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

  • eBay to sell a 10.2% stake in Adevinta to funds advised by global private equity firm Permira
  • Permira Partner Dipan Patel to be appointed to the Adevinta Board of Directors


Oslo, 14 July 2021 – Adevinta ASA (ADE) (“Adevinta” or the “Company”) today welcomes the agreement between eBay Inc. (“eBay”) and Permira, which will see eBay sell approximately 125 million shares to funds advised by Permira. This represents a 10.2% stake in Adevinta. On closing of this transaction, eBay will own 415 million shares, representing a 34% stake in Adevinta, and Dipan Patel, Permira Partner and Head of Consumer, will be appointed to Adevinta’s Board of Directors.

Permira is a global private equity firm focused on transformational growth at scale. The firm advises funds with total committed capital of approximately €44bn. Permira has an extensive track record in investing at the intersection of consumer/prosumer and technology, having backed companies like Allegro, Mirakl, Klarna, LegalZoom, Flixbus, Catawiki, Boats Group, The Knot Worldwide, and Zwift.

Orla Noonan, Chair of the Adevinta Board, said: "We are pleased to welcome Permira as a strategic shareholder in Adevinta and Dipan Patel to the Board of Directors. They will bring their vast experience of integrating large-scale projects to our acquisition of eBay Classifieds Group.”

Rolv Erik Ryssdal, CEO Adevinta, commented: "Permira has a strong track record in investing in both online marketplaces and the broader technology sector. We are confident that Permira will be able to use this expertise to support Adevinta in capturing further value for all shareholders and ultimately add to our success as the global online classifieds leader.”

Dipan Patel said: “We have long been admirers of Adevinta and are delighted to make this investment. Adevinta is home to some of the most iconic online classifieds brands, combining growth, scale, margin and economic resilience. With leading positions in 16 countries covering one billion consumers, the Company is situated right at the heart of the rapidly transforming auto, real estate and jobs end markets, as well as the second-hand economy at a critical juncture for sustainable commerce.”

Stefan Dziarski, Permira Partner in Frankfurt, said: Adevinta is early in the development of its next generation business models for both its professional customers and consumers. The Company’s growth ambitions, and the expertise required to deliver them, overlap perfectly with what Permira does best, and we are thrilled to be partnering with a world-class management team and board to realize the opportunity ahead.”

eBay has additionally granted Permira a 30-day option to purchase an additional 10 million shares at the same price. If Permira exercises the option, eBay’s ownership in Adevinta will reduce to 33%.

The transaction is expected to close in Q4 2021, once requisite Foreign Direct Investment approvals have been secured.


-ends-

Media contacts:
Mélodie Laroche
Head of Corporate Communications
T: +33 (0) 6 84 30 52 76
melodie.laroche@adevinta.com

John Kiely / Latika Shah / Raeesa Chowdhury-King
Edelman Smithfield
+44 (0)7785 275665 / +44 (0)7950 671 948 / +44 (0)7885 802774
adevinta@edelman.com

Investor Relations contacts:
Marie de Scorbiac / Anne-Sophie Jugean
ir@adevinta.com

About Adevinta
Adevinta is a global online classifieds specialist, operating digital marketplaces in 16 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio spans more than 40 digital brands, covering one billion people and attracting approximately three billion average monthly visits. Leading brands include top-ranked leboncoin in France, Germany’s leading classifieds sites mobile.de and eBay Kleinanzeigen, Marktplaats in the Netherlands, Kijiji in Canada, fotocasa and InfoJobs in Spain, and 50% of fast-growing OLX Brasil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta employs around 7,000 people committed to supporting users and customers daily. Find out more at Adevinta.com.

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader including the Marketplace and Classifieds platforms. Collectively, we connect millions of buyers and sellers around the world, empowering people and creating opportunity for all. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. For more information about the company and its global
portfolio of online brands, visit www.ebayinc.com

About Permira
Permira is a leading global investment firm focused on growth at scale. Founded in 1985, the firm advises funds with total committed capital of approximately US$50bn (€44bn) and makes long-term majority and minority investments. The Permira funds have made over 250 private equity investments in four key sectors: Technology, Consumer, Services and Healthcare. Permira employs over 350 people in 15 offices across Europe, North America, and Asia.

The Permira funds have an extensive track record in investing at the intersection of consumer/prosumer and technology, having backed Allegro, Mirakl, TeamViewer, Klarna, LegalZoom, Flixbus, Ancestry, Catawiki, Boats Group, The Knot Worldwide, BestSecret, Zwift and Magento. For more information, visit www.permira.com.


To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Equinor introduserer første transje av program for tilbakekjøp av aksjer28.7.2021 06:46:00 CEST | Pressemelding

Equinor (OSE: EQNR, NYSE: EQNR) starter i dag første transje på om lag 300 millioner dollar av programmet for tilbakekjøp av aksjer, som ble kunngjort på kapitalmarkedsdagen 15. juni 2021. På kapitalmarkedsdagen kunngjorde Equinor en konkurransedyktig kapitaldistribusjon med en økning av det kvartalsvise kontantutbytte til 18 cent per aksje og oppstart av et nytt program for tilbakekjøp av aksjer, noe som gir en kapitaldistribusjonsstruktur med økt fleksibilitet. Første transje av tilbakekjøpsprogrammet er på inntil 300 millioner USD, inkludert aksjer som innløses fra den norske stat, og vil avsluttes senest 28. september 2021. For 2021 forventes programmet for tilbakekjøp av aksjer å utgjøre om lag 600 millioner USD, inkludert aksjer som innløses fra den norske stat. Fra 2022 forventes et årlig tilbakekjøpsprogram på om lag 1,2 milliarder USD å bli gjennomført når prisen på Brent-olje er i, eller over, prisnivået 50-60 USD/fat, Equinors netto gjeldsgrad(1) holder seg innenfor ambisjon

Equinor commences first tranche in share buy-back programme28.7.2021 06:46:00 CEST | Press release

Equinor (OSE: EQNR, NYSE: EQNR) today commences the first tranche of around USD 300 million, of the new share buy-back programme announced at the Capital Markets Day on 15 June 2021. At the Capital Markets Day Equinor announced a competitive capital distribution with an increase of the quarterly cash dividend to 18 cents per share and the start of a new share buy-back programme, providing a capital distribution structure with increased flexibility. The first tranche of the share buy-back programme is up to USD 300 million, including shares to be redeemed from the Norwegian State, and will end no later than 28 September 2021. For 2021 the share buy-back programme is expected at USD 600 million, including shares to be redeemed from the Norwegian State. Starting in 2022 the annual share buy-back programme of around USD 1.2 billion is expected to be executed when Brent oil prices are in or above the range of 50-60 USD/bbl, Equinor’s net debt ratio(1) stays within the communicated ambition

Equinor ASA: Information relating to dividend for second quarter 202128.7.2021 06:45:00 CEST | Press release

Key information relating to the cash dividend to be paid by Equinor (OSE: EQNR, NYSE: EQNR) for second quarter 2021. Dividend amount: 0.18 Declared currency: USD Last day including rights New York Stock Exchange (NYSE): 9 November 2021 Ex-date NYSE: 10 November 2021 Last day including rights Oslo Børs (Oslo Stock Exchange): 10 November 2021 Ex-date Oslo Børs: 11 November 2021 Record date NYSE and Oslo Børs: 12 November 2021 Payment date: 24 November 2021 Other information: Dividend per share in NOK will be communicated 18 November 2021. This information is published in accordance with the requirements of the Continuing Obligations. This information is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act

Equinor ASA: Informasjon angående utbytte for andre kvartal 202128.7.2021 06:45:00 CEST | Pressemelding

Nøkkelinformasjon vedrørende kontantutbytte for Equinor (OSE: EQNR, NYSE: EQNR) for andre kvartal 2021. Utbyttebeløp: 0,18 Annonsert valuta: USD Siste dag inclusive, New York Stock Exchange (NYSE): 9. november 2021 Ex-dato NYSE: 10. november 2021 Siste dag inklusive, Oslo Børs: 10. november 2021 Ex-dato Oslo Børs: 11. november 2021 Record date (eierregisterdato) NYSE og Oslo Børs: 12. november 2021 Betalingsdato: 24. november 2021 Øvrig informasjon: Utbytte i NOK per aksje vil bli kommunisert 18. november 2021. Denne informasjonen offentliggjøres i henhold til kravene i Løpende forpliktelser. Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12.

Equinor second quarter 2021 results28.7.2021 06:44:00 CEST | Press release

Equinor (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.64 billion and USD 1.58 billion after tax in the second quarter of 2021. IFRS net operating income was USD 5.30 billion and the IFRS net income was USD 1.94 billion. The second quarter of 2021 was characterised by: Strong results due to higher prices, sustained value focus and strict capital discipline.Solid operational performance and progress in the project portfolio, some projects impacted negatively by Covid-19.Strong cash flow and significant improvement of adjusted net debt ratio(1) to 16.4%.Cash dividend of USD 0.18 per share and launch of share buy-back programme. “We deliver a strong result in the second quarter. Solid operational performance and continued focus on value creation have enabled us to capture additional value from higher commodity prices. Strict capital discipline and a net cash flow of more than USD 4.5 billion, reduce our net debt ratio to 16.4 percent and make us robust for volatility in commod

Equinors resultater for andre kvartal 202128.7.2021 06:44:00 CEST | Pressemelding

Equinor (OSE: EQNR, NYSE: EQNR) rapporterer et justert driftsresultat på 4,64 milliarder USD, og 1,58 milliarder USD etter skatt i andre kvartal 2021. Driftsresultatet i henhold til IFRS var 5,30 milliarder USD, og IFRS-resultatet var 1,94 milliarder USD. Andre kvartal 2021 var kjennetegnet av: Sterke resultater som følge av høyere priser, kontinuerlig fokus på verdiskaping og streng kapitaldisiplin.Solid operasjonell drift og framdrift i prosjektporteføljen, noen prosjekter negativt påvirket av Covid-19.Sterk kontantstrøm og betydelig forbedring av netto gjeldsgrad(1) til 16,4 %.Kontantutbytte på USD 0,18 per aksje, og lansering av program for tilbakekjøp av aksjer. – Vi leverer et sterkt resultat i andre kvartal. God operasjonell drift og kontinuerlig fokus på verdiskaping har gjort at vi skaper høyere verdi fra økte råvarepriser. Streng kapitaldisiplin og en netto kontantstrøm på mer enn 4,5 milliarder dollar, reduserer gjeldsgraden vår til 16,4 prosent og gjør oss robuste for volat

Verisk’s AIR Worldwide Estimates Insured Losses for July Floods in Germany Could Approach EUR 5 Billion28.7.2021 06:37:25 CEST | Press release

BOSTON, July 28, 2021 (GLOBE NEWSWIRE) -- Extreme event modeling firm AIR Worldwide estimates insured losses in Germany from July flooding could approach EUR 5 billion. AIR Worldwide is a Verisk (Nasdaq:VRSK) business. Low pressure system “Bernd” parked itself over central Europe and brought about significant flooding from July 13 to 18. Germany’s Rhineland-Palatinate and North Rhine-Westphalia regions were particularly affected, experiencing heavy and, in some cases, historic rainfall amounts, with the border region between the German states of Bavaria, Thuringia, and Saxony being affected by localized flooding as well. Impacted German rivers with notable gauge readings include the tributaries of the Mosel and Rhine rivers, some of which reached historically high levels. One area that was especially hard hit is the Ahr valley, which is named after the Ahr River, a left tributary of the Rhine River in Germany. All along the Ahr River, homes were flooded and bridges were broken; in the