Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Adevinta ASA
  6. News
  7. Summary
    ADE   NO0010844038

ADEVINTA ASA

(ADE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Schibsted ASA (SCHA/SCHB) - Austrian regulatory approval and commencement of closing of Adevinta’s acquisition of eBay Classifieds Group

06/18/2021 | 05:00am EST

Following an announcement by the Austrian Federal Competition Authorities (the “FCA”) today, Schibsted ASA confirms that the FCA has approved the remedies proposed by Adevinta ASA (“Adevinta”) and eBay Inc. (“eBay”) to resolve the competition concerns raised by the FCA in relation to Adevinta’s acquisition of eBay Classifieds Group (“eCG”), the global classifieds arm of eBay (“the transaction”).

The remedies proposed by Adevinta and eBay address the FCA’s concern that the transaction could potentially lessen competition in the Austrian market between eBay.at and Willhaben, Adevinta’s joint venture business in Austria. The commitments include a reduction by eBay of its financial interest in Adevinta to at least 33% within 18 months following closing of the transaction, so as to reduce its indirect economic interest in Willhaben. Additionally, Adevinta has agreed to prevent the flow of information about Willhaben to eBay, as well as to restrict eBay's potential influence over the strategic operations of Willhaben.

Approval of the remedies from the FCA marks a significant milestone, as all regulatory approvals required for closing the transaction have now been received. Consequently, Adevinta announces that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June 2021.

Schibsted’s acquisition of eBay Classifieds’ Danish businesses, DBA.dk and Bilbasen.dk, will be completed immediately upon closing of the transaction between Adevinta and eBay.

Schibsted remains supportive of the proposed transaction and looks forward to closing.

The companies involved will make further announcements once the transactions have been completed.



Oslo, 18 June 2021

SCHIBSTED ASA



Contacts

Adevinta:

Mélodie Laroche 

Head of Corporate Communications, Adevinta

+33 (0) 6 84 30 52 76

melodie.laroche@adevinta.com / press@adevinta.com

Schibsted:

Atle Lessum

Head of Group Communications

+47 415 05 645   

atle.lessum@schibsted.com



Malin Langtvet

Investor Relations Officer

+47 916 86 710

ir@schibsted.com

Disclosure regulation

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

About Schibsted

Schibsted is a family of digital brands with a strong Nordic position, and more than 5,000 employees. Millions of people enjoy interacting with our companies every day through our online marketplaces such as FINN, Blocket and Oikotie; our media houses including Aftenposten, VG and Aftonbladet; and digital services like Lendo. We also help new promising businesses grow. Our joint mission of empowering people in their daily lives is rooted in the values of our media heritage and a legacy of bold change. At our best, we are a fearless force for change in a society built on trust and transparency. 

Schibsted is listed on Oslo Børs and holds a majority ownership in Adevinta, a company that was spun off and publicly listed as a separate company on Oslo Børs in 2019.

Attachments

  • Download announcement as PDF.pdf

© NTB Norway, source NTB English Regulatory Releases

Stocks mentioned in the article
ChangeLast1st jan.
ADEVINTA ASA -0.50% 120 Real-time Quote.-16.25%
EBAY INC. -0.64% 67.05 Delayed Quote.33.43%
SCHIBSTED ASA -0.80% 383.5 Real-time Quote.5.54%
All news about ADEVINTA ASA
12/01ADEVINTA : sells Gumtree UK and Motors.co.uk
PU
12/01Adevinta Divests Two Units to Resolve Regulatory Concerns Over eBay Classifieds Purchas..
MT
12/01Adevinta ASA (ADE) - Adevinta sells Gumtree UK and Motors.co.uk to O3 Industries and No..
AQ
12/01Adevinta ASA (ADE) – Adevinta sells Gumtree UK and Motors.co.uk to O3 Industries ..
AQ
12/01NOVUM CAPITAL BERATUNGSGESELLSCHAFT : Ade).
CI
11/30ADEVINTA : Download Adevinta CMD 2021 Presentation
PU
11/30Adevinta ASA (ADE) - Capital Markets Day 2021 presentation
AQ
11/30ADEVINTA : launches its plan to accelerate its profitable growth
PU
11/30Adevinta Launches New Strategy Focused On Growth Across Five Core Markets
MT
11/30Adevinta ASA (ADE) - Adevinta launches "Growing at Scale", its new strategic plan desig..
AQ
More news
Analyst Recommendations on ADEVINTA ASA
More recommendations
Financials
Sales 2021 1 206 M 1 361 M 1 361 M
Net income 2021 104 M 117 M 117 M
Net Debt 2021 2 713 M 3 061 M 3 061 M
P/E ratio 2021 149x
Yield 2021 0,00%
Capitalization 14 206 M 16 081 M 16 028 M
EV / Sales 2021 14,0x
EV / Sales 2022 8,94x
Nbr of Employees 3 917
Free-Float 28,0%
Chart ADEVINTA ASA
Duration : Period :
Adevinta ASA Technical Analysis Chart | ADE | NO0010844038 | MarketScreener
Technical analysis trends ADEVINTA ASA
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 120,60 NOK
Average target price 172,29 NOK
Spread / Average Target 42,9%
EPS Revisions
Managers and Directors
Rolv Erik Ryssdal Chief Executive Officer
Uvashni Raman Chief Financial Officer
Orla Noonan Chairman
Renaud Franck Bruyeron Senior Vice President-Product & Technology
Sophie Constance Javary Independent Director
Sector and Competitors
1st jan.Capi. (M$)
ADEVINTA ASA-16.25%16 081
TENCENT HOLDINGS LIMITED-17.98%565 985
NETFLIX, INC.11.36%266 715
PROSUS N.V.-20.48%250 295
AIRBNB, INC.15.53%104 417
UBER TECHNOLOGIES, INC.-29.71%69 553