Permira, a global private equity firm focused on growth at scale, has made a strategic investment in Adevinta ASA (Adevinta).

Funds advised by Permira have agreed to acquire approximately 125 million shares in Adevinta from eBay Inc (eBay), representing a 10.2 per cent ownership. Upon closing of the transaction, Permira Partner and Head of Consumer, Dipan Patel, will join the Board of Directors of Adevinta.

Adevinta represents a unique platform in online classifieds. Its global portfolio includes leading marketplaces such as Leboncoin in France, and eBay Kleinanzeigen in Germany, Marktplaats in the Netherlands and OLX in Brazil. The Company is well positioned for future growth, with opportunities to scale its transactional capability as well as expand its offering into next generation models in the automotive, real estate and jobs markets.

“Adevinta is early in the development of its next generation business models for both its professional customers and consumers. The Company’s growth ambitions, and the expertise required to deliver them, overlap perfectly with what Permira does best, and we are thrilled to be partnering with a world-class management team and board to realise the opportunity ahead,” says Stefan Dziarski, Permira Partner in Frankfurt.

Closing of the transaction is expected in Q4 2021 and is subject to regulatory approvals and customary closing conditions. Permira will in due course make appropriate regulatory notification of large shareholding.

Read more/Source: Private Equity Wire