Stake in Norwegian Adevinta should be sold to private equity group Permira for $2.25 billion in cash, according to Reuters. eBay should sell in first phase 125 million shares and in the second phase 10 million shares, which will ensure reduction eBay’s stake to 33%. Adevinta started their business in 2019, as a global online classifieds specialist, operating digital marketplaces around 16 countries. Adevinta’s products and services include both generalist classifieds sites and specialist real estate, motors and jobs sites. 

Chair of the Adevinta Board, Orla Noonan said: "We are pleased to welcome Permira as a strategic shareholder in Adevinta and Dipan Patel to the Board of Directors. They will bring their vast experience of integrating large-scale projects to our acquisition of eBay Classifieds Group.” Permira is a international private equity company with more than 360 people in 15 offices in Europe, North America and Asia, and their 17 buyout and growth funds have secured €44bn of committed capital. Selling to new investor is expected to close in the fourth quarter this year, regarding to Adevinta.

Performance of 5 years for eBay (Source: Investing.com)