ADEVF - Wall Street Breakfast: eBay Refocuses On Core Marketplace
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eBay is selling its classified ad business to Norway's Adevinta (ADEVF) for $9.2B in cash and stock, making the latter the largest online classifieds company globally. The unit is one of eBay's last remaining businesses outside the company's core after selling its StubHub ticketing division last year. As part of the transaction, eBay (EBAY) will receive $2.5B in cash and approximately 540M Adevinta shares - representing 44% ownership