Business

eBay to sell its classified-ads unit to Norway's Adevinta, which operates in Latin America

The Wall Street Journal says that eBay was expected to sell it for roughly $8 billion or more

smartphone shows ebay's app
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  • If Adevinta acquires it, eBay can expand its international portfolio of e-commerce platforms;
  • Adevinta runs online marketplaces across Latin America and Europe;
  • The Wall Street Journal reports that, if successful, the deal may be finished through a cash-and-stock sale.

eBay is in advanced talks to sell its classified-ads business to Norway’s Adevinta, that runs online marketplaces across Latin America and Europe, people familiar to the situation told to The Wall Street Journal. The newspaper says that if the deal is successful it will provide the e-commerce giant to refocus on its core business.

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According to The Wall Street Journal, eBay was expected to sell the division for roughly $8 billion or more. Adevinta runs e-commerce brands like the Brazilian online marketplace OLX, and Mexican Segundamano, the largest portal in Mexico for classified ads.

eBay’s classifieds division operates mostly outside of the United States, including in Mexico, Canada, Europe, Africa and Australia. TechCrunch reports that if Adevinta acquires it, it can expand its international portfolio of peer-to-peer e-commerce platforms.

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An Adevinta representative told TechCrunch the company had no comment on the reported negotiations. On the other hand, eBay told the media outlet that in its last quarterly earnings report, issued in April, it was “exploring potential value-creating alternatives for its Classifieds business, is holding active discussions with multiple parties and anticipates having an update by the middle of the year.”