Schibsted to acquire eBay Classifieds Group’s Denmark assets for $330m.

Schibsted, a global family of digital consumer brands, agreed to acquire eBay Classifieds Group’s Denmark assets for $330m on a debt- and cash-free basis, in turn reducing the cash consideration from Adevinta to approximately $2.17bn. The combined entity is expected to de-lever quickly through a combination of strong EBITDA growth and high cash conversion. “Schibsted’s Board of Directors and management strongly support the agreement between Adevinta and eBay, as we are confident that it will further strengthen the value creation potential for Schibsted and the rest of Adevinta’s shareholders. Schibsted intends to continue to contribute to the value creation for all Adevinta shareholders as a significant long-term anchor shareholder,” Kristin Skogen Lund, Schibsted CEO.