1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Adevinta ASA
  6. News
  7. Summary
    ADE   NO0010844038


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Adevinta : sells Gumtree UK and Motors.co.uk

12/01/2021 | 04:11am EDT

Oslo, 1 December 2021- Adevinta ASA announces that it has completed the sale of Gumtree UK and Motors.co.uk to a consortium consisting of O3Industries ("O3"), a New York-based family investment fund, and Novum Capital, a private equity firm based out of Frankfurt. The sale is part of a previous agreement with the UK's Competition and Market Authority (CMA) for approval of Adevinta's acquisition of eBay Classifieds Group ("eCG").

In June 2021, the CMA announced that it had accepted undertakings offered by Adevinta and eBay to resolve the competition concerns raised by the UK regulator, following its review of Adevinta's acquisition of eCG. These remedies included the sale of Gumtree UK (including Motors.co.uk), as well as Shpock, which Adevinta divested to Russmedia Equity Partners in June 2021.

O3and Novum Capital both have long track records in the media and entertainment industry, helping businesses to grow and realise value. Combining their significant experience and deep sector expertise, the two firms will focus on investing in and growing the Gumtree UK business, leveraging the company's strong brand recognition in the UK market and their competency in digital marketing, media and data.

Rolv Erik Ryssdal, Adevinta CEO, said: "We are pleased to have completed the sale of Gumtree UK and Motors.co.uk to O3and Novum Capital. There was a high level of interest throughout the sale process, reflecting the quality of the Gumtree UK business and management team. We are confident that both O3and Novum Capital are well placed to continue growing Gumtree UK and Motors.co.uk as they focus on providing leading classifieds advertising services to the UK market.

"The acquisition of eCG was a significant milestone for Adevinta, and we remain focused on successfully integrating the two businesses. The combination provides us the scale, expertise and talent to build innovative, world-class products that create value for all of our stakeholders."

Daniel Ozen, President of O3Industries, said: "We are excited to have reached this agreement to acquire Gumtree UK and Motors.co.uk, an iconic general classifieds as well as automotive marketplace. O3Industries is a trusted partner for businesses that have both a demonstrated record of innovation and customer service and, at the same time, clear opportunities for continued growth. That is precisely what we see in Gumtree UK and Motors.co.uk. We look forward to working with its talented and experienced team and welcoming its associates into the O3family."

Felix Homann, Partner of Novum Capital, added:"Gumtree UK's value proposition is more vital than ever, enabling consumers to participate more in the circular economy by buying and selling second-hand. Likewise, Motors.co.uk supports car dealers in satisfying the growing demand from consumers for a great online car buying experience. We are excited to put our expertise and passion to work in order to seize the opportunities this presents."

In 2020, Gumtree UK and Motors.co.uk accounted for c. 7% of consolidated revenues for eBay Classifieds Group and c. 4% for total Adevinta.


Adevinta ASA published this content on 01 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2021 09:10:05 UTC.

© Publicnow 2021
All news about ADEVINTA ASA
05/04Schibsted ASA (SCHA/SCHB) - Karl-Christian Agerup elected Schibsted Board Chair
04/28ADEVINTA : publishes its 2021 Annual Report
04/28ADEVINTA : Download the 2021 Adevinta Annual Report (pdf)
04/28Adevinta (ASA) publishes its 2021 Annual Report
04/28ADEVINTA : Ventures announces investment in Spotawheel
04/28Adevinta ASA (ADE) - Repurchase of shares by Adevinta ASA
04/27Norway's Adevinta to Exit Belarus With Disposal of Kufar Classifieds Business
04/27Adevinta Plans to Exit Kufar, Its Classifieds Business in Belarus
04/21Adevinta ASA (ADE) - Mandatory notification of trade - Employee Share Purchase Plan
04/21Adevinta ASA (ADE) - Mandatory notification of trade – Employee Share Purchase Pl..
More news
Analyst Recommendations on ADEVINTA ASA
More recommendations
Sales 2022 1 672 M 1 740 M 1 740 M
Net income 2022 155 M 161 M 161 M
Net Debt 2022 2 004 M 2 084 M 2 084 M
P/E ratio 2022 52,1x
Yield 2022 0,15%
Capitalization 8 102 M 8 429 M 8 429 M
EV / Sales 2022 6,04x
EV / Sales 2023 5,15x
Nbr of Employees 5 033
Free-Float 13,3%
Duration : Period :
Adevinta ASA Technical Analysis Chart | ADE | NO0010844038 | MarketScreener
Technical analysis trends ADEVINTA ASA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 64,80 NOK
Average target price 114,22 NOK
Spread / Average Target 76,3%
EPS Revisions
Managers and Directors
Rolv Erik Ryssdal Chief Executive Officer
Uvashni Raman Chief Financial Officer
Orla Noonan Chairman
Alex Alexander Chief Product & Technology Officer
Sophie Constance Javary Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ADEVINTA ASA-44.76%8 409
PROSUS N.V.-40.28%116 492
NETFLIX, INC.-68.85%83 364
AIRBNB, INC.-27.05%77 298