- eBay Inc EBAY inked an agreement with Permira to sell 125 million shares of its stake in Adevinta ASA ADEVF for $2.25 billion. The price represents a 7% discount to the 10-day volume-weighted average price (VWAP) of Adevinta shares as of July 12.
- The transaction is likely to close in Q4 2021.
- It will reduce eBay's ownership stake in Adevinta from 44% to 34%.
- eBay has granted Permira a 30-day option to purchase 10 million additional shares.
- eBay agreed to reduce its ownership in Adevinta as ordered by the Austrian regulators.
- Price action: EBAY shares closed lower by 0.33% at $68.74 on Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
