Blackstone and Permira offered to acquire European classifieds business Adevinta (Oslo: ADE), currently trading at a $9.7 billion market cap.
• Discussions are still early, but Oslo-based Adevinta said its largest shareholders, eBay and Norwegian media group Schibsted ASA, are in support of the deal and would retain their minority stakes.
• Backstory: Adevinta bought eBay’s classifieds business in 2021 for $9.2 billion, beating out competing bids from Blackstone and Permira. Following that deal, Permira was able to pick up a minority stake after eBay sold down part of the position it had maintained.
• Adevinta shares have lost more than half their value since a 2021 peak, prompting speculation that private equity might make a move.