On 22 December 2023, Adevinta officially became under offer by Aurelia Bidco Norway AS, the newly established acquisition vehicle with major backing by the Permira and Blackstone consortium.
A press release by Adevinta also named General Atlantic and TCV as investors, with a purchase price of NOK 115 per share ($11.3).
The offer price represents a premium of 54% to the volume-weighted average price of NOK 74.58 over the 3 months up to and including 19 September 2023 and; 51% to the volume-weighted average price of NOK 76.28 over the 6 months up to and including 19 September 2023.
Permira, Schibsted and eBay have already agreed to sell their combined circa 886 million shares, which essentially means the offer has a 72.3% majority backing already.
Shareholders can opt for payment in cash, shares in the new entity, or a 50-50 split of cash and new shares.
The offer will expire on 24 January 2024, with the buyout expected to complete in Q2 2024 subject to regulatory approvals and clearances.
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