The offer has already received the support of shareholders representing 72.3% of Adevinta’s capital, including the two main ones, the American eBay and the Norwegian Schibsted, the parties specify in a joint stock market press release.
Born from a split with Schibsted, Adevinta is a group specializing in online advertisements which, in addition to Leboncoin, its most lucrative jewel, owns, among others, the Argus group, Avendrealouer and Agriaffaires in France as well as assets in Germany (Mobile.de ), in Spain, Benelux and Italy.
In a separate statement, Adevinta’s board neither recommended nor discouraged the investors’ proposal, emphasizing that “shareholders should be given the opportunity to form their own opinion on the merits of the offer.”
At 115 crowns per share, the offer combining cash and shares represents a premium of 54% compared to the average price of Adevinta shares in the months preceding September 19, the date around which investors publicly announced their interest in the group, boosting the stock on the stock market.
On Tuesday, before the takeover bid was announced, the stock closed at 106.1 crowns on the Oslo Stock Exchange.
The consortium of investors which also includes General Atlantic and TCV has submitted its offer via a specially created new company, called Aurelia
