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.
Says Mike Kenner, Managing Director at Lifull Connect, "If you stripped away all the portals today, they wouldn't come back...
Read More
China-based classifieds giant 58.com has removed over 80,000 listings from its real estate platform Anjuke in the last nine months...
Read More
This week's roundup starts in the UK, where the ever-imaginative Jitty has found an even more unique way of searching...
Read More
Aurélien Flament, Director of Real Estate at Leboncoin, recently spoke with the local agent-facing publication Journal de l'Agence about the...
Read More
