Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a cash share deal worth $9.2 billion, the companies said on Tuesday.
Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44% stake of the pro forma company, they said.
The transaction is expected to close by the first quarter of 2021.
