Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth $9.2 billion, the companies said on Tuesday.
Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44 percent stake of the pro forma company, they said.
The transaction is expected to close by the first quarter of 2021.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
