Latest news with #Adevinta
Yahoo
17-05-2025
- Business
- Yahoo
Adevinta explores sale of its Spanish business as owners pursue break-up, sources say
By Andres Gonzalez and Amy-Jo Crowley LONDON (Reuters) -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 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 a leading classifieds site for second-hand cars. ($1 = 0.8936 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
16-05-2025
- Business
- CNA
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 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 a leading classifieds site for second-hand cars. ($1 = 0.8936 euros)
Reuters
16-05-2025
- Business
- Reuters
Adevinta explores sale of its Spanish business as owners pursue break-up, sources say
LONDON, May 16 (Reuters) - 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 (BX.N), opens new tab 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 (RMV.L), opens new tab rejected a proposal from Australian property listing company REA Group ( opens new tab 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 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 a leading classifieds site for second-hand cars. ($1 = 0.8936 euros)
Yahoo
08-05-2025
- Business
- Yahoo
Schibsted ASA (SBBTF) Q1 2025 Earnings Call Highlights: Revenue Growth and Strategic ...
Group Revenue: NOK 2,015 million, a 4% year-on-year increase. Group EBITDA: NOK 394 million, an 18% increase year-on-year. Share Buyback Program: Initiated a NOK 2 billion program. Special Cash Dividend: Planned NOK 500 million linked to proceeds from Adevinta. Mobility Revenue: Declined by 1%; adjusted growth would have been 4% excluding certain factors. Real Estate Revenue: Increased by 20%, driven by 18% growth in classified revenues. Jobs Revenue (Norway): Increased by 5% despite a 10% volume decline. Re-commerce Revenue: Declined by 6%, with a 30% growth in transactional revenues. OpEx (excluding COGS): Declined by 9% year-on-year. Net Loss: NOK 2.2 billion, impacted by a fair value adjustment related to Adevinta. Cash Flow from Operations: NOK 257 million, up from NOK 10 million in Q1 last year. Net Cash: NOK 1.4 billion at the end of the quarter. Release Date: May 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Schibsted ASA (SBBTF) reported a 4% year-on-year increase in group revenues, reaching NOK2015 million. The company achieved an 18% increase in group EBITDA, amounting to NOK394 million, driven by strong performance in real estate and reduced operating expenses. A new NOK2 billion share buyback program was initiated, alongside a planned NOK500 million special cash dividend linked to proceeds from Adevinta. The real estate segment saw a 20% revenue increase, supported by a vibrant Norwegian market and strong ARPA growth. Schibsted ASA (SBBTF) successfully reduced OpEx excluding COGS by 9% year-on-year, reflecting effective cost management and workforce reductions. Negative Points Advertising revenues declined by 30%, primarily due to the separation from media, impacting overall revenue growth. The exit from jobs in Sweden and Finland negatively affected revenue growth, with ongoing impacts expected throughout 2025. Re-commerce revenues declined by 6%, influenced by the phase-out of non-core revenue streams and a 42% drop in advertising. Mobility revenues declined by 1% in Q1, with challenges in the professional ARPA segment due to customer churn. The company anticipates muted total revenue growth for the remainder of 2025, driven by advertising revenue pressures and strategic business simplifications. Q & A Highlights Q: Can you clarify the timing of the decision to sell the delivery business? Was there a strategic shift or change in performance that accelerated this decision? A: Per Morland, CFO, explained that there was no major strategic shift or change in the buyer landscape. The decision was part of a long-term strategy, and they are now ready to move forward with the sale.
Yahoo
18-03-2025
- Business
- Yahoo
Private Credit Set to Win €6.25 Billion Adevinta Deal
(Bloomberg) -- Private credit lenders are in advanced talks to strike a €6.25 billion ($6.8 billion) loan deal with online classifieds company Adevinta ASA, which would be among the largest of its kind, people with knowledge of the matter said. ICE Eyes Massive California Tent Facility Amid Space Constraints How Britain's Most Bike-Friendly New Town Got Built The Dark Prophet of Car-Clogged Cities Washington, DC, Region Braces for 'Devastating' Cuts from Congress NYC Plans for Flood Protection Without Federal Funds If the deal goes ahead, it would represent a blow to banks who pitched to refinance the company's debt. Though bank debt is usually cheaper, private credit funds are better able to execute loans in uncertain times. The development underscores the impact that souring investor sentiment is having on broadly-syndicated markets, driven in part by uncertainty over the extent of US President Donald Trump's trade tariffs. In recent days, companies on both sides of the Atlantic have pulled junk loan deals. The Adevinta negotiations involve reducing the cost of its existing debt as well as adding some more credit to help pay for a dividend for its private equity owners Blackstone Inc. and Permira. The take-private deal for Adevinta in 2023 was the biggest-ever direct loan at the time, with a large group of funds financing the €4.5 billion unitranche. Now private credit lenders are aiming to shave one percentage point off the unitranche loan, with a new price of 4.75 percentage points over the Euro Interbank Offered Rate, said the people, asking not to be identified. They will also provide an extra €1.75 billion, part of which will pay for the dividend recapitalization. Talks are ongoing and the financing may still change. Spokespeople for Adevinta, Blackstone and Permira declined to comment. Pole Position Adevinta now has over €1 billion in earnings before interest, taxes, depreciation, and amortization. Its owners were originally considering several options, including refinancing via banks, sticking to private credit, or a mixture of both. The private credit route is now in pole position, the people said. A deal would mark another win for a burgeoning private credit industry that's now worth $1.6 trillion and increasingly becoming the go-to funding source for private equity firms. Meanwhile banks were hoping for fresh financing opportunities at a time of meager activity in mergers and acquisitions. While the broadly-syndicated leveraged loan market saw large volumes of deals in the second half of 2024 as investors piled into credit funds, the withdrawn deals are the first signs of a wobble this year. UK production company All3Media and French insurance broker April Group last week withdrew proposals to reprice existing leveraged loans in Europe, while crop-protection company Rovensa pulled a planned €1.1 billion loan refinancing and extension. Friday posted the largest one-day drop in secondary pricing since October 2023, according to a Morningstar index. (Adds new chart after paragraph 4) The Real Reason Trump Is Pushing 'Buy American' Tesla's Gamble on MAGA Customers Won't Work Snap CEO Evan Spiegel Bets Meta Can't Copy High-Tech Glasses Nvidia Looks Past DeepSeek and Tariffs for AI's Next Chapter How Trump's 'No Tax on Tips' Could Backfire for the Working Class ©2025 Bloomberg L.P. Sign in to access your portfolio
