- 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.
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