Ebay sells classifieds business to Norway’s Adevinta in $9.2 billion deal

OSLO (Reuters) – Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth $9.2 billion, the companies said on Tuesday.

Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44% stake of the pro forma company, they said.

The transaction is expected to close by the first quarter of 2021.

(Reporting by Nerijus Adomaitis; editing by Jason Neely)