Adevinta explores sale of its Spanish business as owners pursue break-up, sources say
LONDON :Online classifieds group Adevinta is exploring the sale of its Spanish business, two sources with knowledge of the talks said, as its private equity owners seek to break-up the company to focus on three main markets and boost returns.
Norway's Adevinta, acquired by a consortium led by Blackstone and Permira a year ago, is working with advisers on the sale of the Spanish business, which includes brands such as job-search platform Infojobs or property website Fotocasa, the sources said.
The business could fetch more than 2 billion euros ($2.2 billion), one of the two sources said. A third source said that Adevinta's earnings before interest, taxes, depreciation and amortisation (EBITDA) are around 130 million euros.
Blackstone and Permira declined to comment. Adevinta did not immediately respond to requests for comment.
Online classifieds businesses have attracted increased investor interest. Cinven acquired Spanish online real estate classifieds platform Idealista last year and British real estate portal Rightmove rejected a proposal from Australian property listing company REA Group that valued it at more than $8 billion.
Potential buyers of Adevinta's Spanish operations could include financial sponsors and other companies with interest in the online classifieds sector, one of the sources said, who might seek to acquire part or all of Adevinta's assets in Spain.
Earlier this year, Adevinta agreed to sell its stake in willhaben, Austria's leading digital consumer marketplace business, and is considering the IPO of German online auto marketplace Mobile.de in 2026, Reuters reported in January.
Adevinta's strategy has been to concentrate on its largest markets - Germany, France and Benelux - since the buyout.
Adevinta owns six different marketplaces in Spain including coches.net, a leading classifieds site for second-hand cars.
($1 = 0.8936 euros)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Google rejects app store age verification for online content
Google said that using app store data to verify ages would also leave major ways people access content online unprotected for the underage. PHOTO: REUTERS American tech heavyweight Google on June 13 reiterated its opposition to verifying the age of a device's user through the app stores built into operating systems, calling a proposal from Facebook and Instagram parent Meta 'ineffective'. Limiting access to age-restricted content online is a live issue in Europe, with France battling pornography sites over its newly-introduced requirement that they check users' ages. Paris is also one of several capitals pressing Brussels to introduce Europe-wide regulations cutting off access to social networks for under-15s over concerns including addiction, cyberbullying and hate speech. Basing age verification on details from a device's app store 'would require the sharing of granular age band data with millions of developers... who don't need it', such as producers of uncontroversial apps like flashlights, Google wrote in a blog post. 'We have strong concerns about the risks this 'solution' would pose to children,' it added. The search giant's Play Store is a part of the Android operating system, by far the most widely-used around the globe. Google said that using app store data to verify ages would also leave major ways people access content online unprotected for the underage, such as desktop computers or shared family devices. Apple – whose own App Store is loaded on every device running its iOS operating system, such as iPhones and iPads – has also pushed back against Meta's proposal. 'The right place to address the dangers of age-restricted content online is the limited set of websites and apps that host that content,' the iPhone maker said in a February document. 'Implementing age verification at the operating system or app store level will help ensure that we create an ecosystem that's safe for teens,' the Facebook owner's safety chief Antigone Davis told Euronews in February. Meta has since launched a campaign for European regulation to require the measure. Europe's Digital Services Act, which came into force in 2024 , says it is up to platforms like Meta's to verify the age of their users – not providers of operating systems or app stores. Google said that changing to the latter system – which has also been pushed by Pornhub parent company Aylo – would mean 're-engineering the protocols that have defined the decentralised web in ways that are hard to fully predict'. AFP Join ST's Telegram channel and get the latest breaking news delivered to you.
CNA
2 hours ago
- CNA
Liverpool agree 136.3 million euros fee to sign Leverkusen's Wirtz, reports say
Premier League champions Liverpool have agreed a fee of 136.3 million euros ($156.75 million) to sign Germany's attacking midfielder Florian Wirtz from Bundesliga club Bayer Leverkusen, British media reported on Friday. The Athletic reported that Wirtz is expected to sign a five-year contract, with the fee comprised of a 117.5 million euros upfront amount and a further 18.8 million in add-ons. Reuters has contacted Leverkusen for comment. The fee would make Wirtz Liverpool's most-expensive signing ever ahead of Netherlands centre back and captain Virgil van Dijk, who joined for 75 million pounds in 2017. With two years left on his Leverkusen contract, Wirtz was also the subject of interest from German champions Bayern Munich and Pep Guardiola's Manchester City. The German international bagged 16 goals and recorded 15 assists in 45 appearances for Leverkusen last season as they finished second to Bayern. Wirtz would become Liverpool's second addition of the transfer window after they signed Dutch right back Jeremie Frimpong, who he was teammates with at Leverkusen. ($1 = 0.8696 euros)
CNA
3 hours ago
- CNA
Deutsche Telekom, Nvidia to build AI cloud for industry in Germany
BERLIN :Deutsche Telekom and Nvidia will join forces to build an industrial artificial intelligence cloud for European manufacturers in Germany, the first of its kind, the companies said on Friday. Implementation of the industrial AI cloud is to take place by 2026 at the latest, they said in a statement. Nvidia CEO Jensen Huang announced the planned site in Germany earlier this week and met with German Chancellor Friedrich Merz on Friday. Nvidia will supply 10,000 chips for the site, while Deutsche Telekom will provide infrastructure and be responsible for data centers, operations, sales, security and AI solutions, the statement said.
