eBay Completes Transfer of Classifieds Business to Adevinta
SAN JOSE, Calif., June 25, 2021 /PRNewswire/ --eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that it has completed the transfer of its Classifieds business to Adevinta in exchange for $2.5 billion in cash and a 44% equity stake in Adevinta, equivalent to approximately 540 million shares.
- SAN JOSE, Calif., June 25, 2021 /PRNewswire/ --eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced that it has completed the transfer of its Classifieds business to Adevinta in exchange for $2.5 billion in cash and a 44% equity stake in Adevinta, equivalent to approximately 540 million shares.
- "We are pleased to finalize the deal between Adevinta and eBay Classifieds, where the combination of these two companies will create a leading global online classifieds business," said Jamie Iannone, Chief Executive Officer, eBay.
- "By joining Adevinta, the eBay Classifieds' business has an enormous opportunity ahead.
- eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects millions of buyers and sellers in 190 markets around the world.