14.7.2021 08:58:06 CEST | Schibsted | Inside information
Schibsted ASA welcomes the announcement by eBay Inc. ("eBay"), which states that
it has sold approximately 125 million shares, representing a 10.2% stake in
Adevinta to funds advised by Permira, the global private equity firm focused on
growth at scale. The transaction is expected to close in Q4 2021, once
regulatory approvals are secured, and will reduce eBay's ownership stake in
Adevinta from 44% to 34%. For further information please see announcements today
by Permira and eBay.
As a large shareholder in Adevinta, Schibsted is supportive of the transaction
and welcomes Permira as a shareholder in the company.
In connection with eBay's sale of shares to Permira, eBay, Schibsted and Permira
have agreed on certain restrictions on share transfers in Adevinta. The
restrictions shall apply for a period of two years from closing of the sale to
Permira, or two years and three months from signing of the sale contract between
eBay and Permira, if earlier, and shall restrict share transfers that would
reduce eBay or Schibsted's ownership stakes in Adevinta to below 25%, or
Permira's stake to below 10%, subject to certain customary exceptions (the
"Lock-up"). In addition, Permira, eBay and Schibsted have agreed to mutual tag
along rights, subject to certain customary exceptions, for a period of 12 months
following expiry of the Lock-up period. The agreed restriction and tag-along
rights, will apply in addition to the transfer restrictions and liquidity rights
agreed between eBay, Schibsted and Adevinta in connection with Adevinta's
acquisition of eBay Classifieds Group, as further set out in Schibsted and
Adevinta's stock exchange releases on 21 July 2020.
Oslo, 14 July 2021
SCHIBSTED ASA
Contacts
Adevinta:
Mélodie Laroche
Corporate Communications
+33 (0) 6 84 30 52 76
melodie.laroche@adevinta.com
Jasper Teijsse
Senior Director of Global Communications, eCG
T: +31 6 53462977
jteijsse@eclassifiedsgroup.com
Marie de Scorbiac / Anne-Sophie Jugean
Investor Relations
ir@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
Schibsted:
Atle Lessum
Head of Group Communications
+47 415 05 645
atle.lessum@schibsted.com
Malin Langtvet
Investor Relations Officer
+47 916 86 710
ir@schibsted.com
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
ABOUT SCHIBSTED
Schibsted is a family of digital brands with a strong Nordic position, and more
than 5,000 employees. Millions of people enjoy interacting with our companies
every day through our online marketplaces such as FINN, Blocket and Oikotie; our
media houses including Aftenposten, VG and Aftonbladet; and digital services
like Lendo. We also help new promising businesses grow. Our joint mission of
empowering people in their daily lives is rooted in the values of our media
heritage and a legacy of bold change. At our best, we are a fearless force for
change in a society built on trust and transparency.
Schibsted is listed on Oslo Børs and holds a majority ownership in Adevinta, a
company that was spun off and publicly listed as a separate company on Oslo Børs
in 2019.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847482/724/923/Download%20announcement%2
0as%20PDF.pdf