EBay sells $2.25 billion Adevinta stake to secure classified ads tie-up

OSLO, – EBay Inc has agreed to sell part of its stake in Norway’s Adevinta to private equity firm Permira for $2.25 billion in cash, clearing the way for a tie-up between eBay and Adevinta’s classified ads businesses.

The deal comes after Austria’s Federal Competition Authority demanded eBay cut its holding in Adevinta to no more than 33% to approve their plan to create a world leader in classified ads.