Adevinta has received regulatory approval for its imminent acquisition by Aurelia Bidco Norway, comprised of the Permira and Blackstone consortium.
A press release circulated last week says the settlement of the offer is expected to pass on 29 May 2024.
Shareholders who accept a cash consideration will receive NOK 115 (USD 10.46), at a valuation of $12.8 billion. The exchange rate for Norwegian Krone has taken a 20% hit in the past 12 months. When the bid for Adevinta was made in November 2023, Aurelia's offer valued Adevinta at $15.3 billion. Six months later, $2.5 billion has been knocked off the price.
Once the acquisition goes through, Aurelia will begin the process of delisting Adevinta from the Oslo Stock Exchange.
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