
Vend (formerly Schibsted Marketplaces) has received €336 million from Adevinta after the conglomerate distributed proceeds from a debt refinancing deal to shareholders.
This figure includes approximately NOK 500 million (€43.3 million) in cash proceeds previously disclosed in December 2024.
Vend, which holds a 14% stake in Adevinta, intends to return the proceeds to its shareholders and says it is currently assessing the appropriate options and timing for this return of capital.
Meanwhile, Tinius Trust, the owner of Schibsted Media, will get NOK900 million (€78 million) thanks to its 23% stake in Vend.
Per Christian Mørland, CFO at Vend, said:
"Today’s announcement is further evidence of the significant and ongoing value creation within Adevinta, as well as Vend’s commitment to disciplined capital allocation—returning surplus cash to shareholders while maintaining a conservative balance sheet."
Adevinta has sought a debt refinancing deal since the start of the year, while a number of its marketplace assets appear to be up for sale as Permira and Blackstone seek a return on investment since its $13 billion acquisition of the European conglomerate last year.