Adevinta In Talks to Raise €6.5 Billion to Refinance Debt

Adevinta is seeking up to €6.5 billion (USD 6.8 billion) in loans from to restructure and refinance its debt, according to Bloomberg.

Bloomberg cited sources saying the company wants to review its circa €4.5 billion debt.

Adevinta is under new ownership after a major acquisition by a consortium led by private equity firms Blackstone and Permira worth $13.4 billion last year.

The company may also use up to €2 billion to pay a dividend to shareholders, sources told Bloomberg.

Adevinta is currently operating without a Group CEO while it enacts major changes. Adevinta has already started decoupling major asset groups across classified marketplaces in Europe, including divesting from Distilled Media in Ireland, while the company's Spanish division is also reportedly up for sale while the Head of Digital at Adevinta Spain also left the business in January. Jordi Iserte, investment director at Adevinta's venture capital arm Adevinta Ventures has also left the business this year.