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[1/2] Executives of Norwegian company Adevinta celebrate the firm’s first day of trading at the Oslo stock exchange, Norway April 10, 2019. The consortium, which include funds General Atlantic and TCV, have offered to pay Adevinta shareholders 115 crowns per share. The deal for Adevinta comes at a difficult time for dealmaking in Europe. It is part of a trend of transactions where private equity firms have weighed buying back public companies they previously owned or still own stakes in. Shareholders can receive cash, or a mix of cash and new shares in the emerging private entity.

Persons: Nerijus, Adevinta, Stefan Dziarski, Dipan Patel, Permira, Shivani Tanna, David Goodman, Marguerita Choy Organizations: Adevinta, REUTERS, Permira, Blackstone, eBay, Adevinta ASA, Atlantic, dealmaking, Thomson Locations: Oslo, Norway, Europe, Adevinta, Bengaluru

☆ Permira will have to work to exit classified hole
▼ + stars: | 2023-09-22 | by ( Karen Kwok | ) www.reuters.com time to read: +3 min

LONDON, Sept 22 (Reuters Breakingviews) - Permira is trying to salvage its bet on classified ads. But buying more may be the best way for Permira to make a healthy return, provided the business can be turbocharged. On Thursday, Adevinta said it had received a non-binding offer from Blackstone and Permira. Norwegian media group Schibsted, a 28% Adevinta shareholder, and eBay, which owns a 33% stake, expressed their support for the proposal and will retain part of their current stake, Adevinta said. In 2021 eBay sold 10% of its stake in Adevinta to Permira for $2.25 billion.

Persons: Adevinta, Permira, Blackstone, Aimee Donnellan, Streisand Neto Organizations: Reuters, Blackstone, eBay, Reuters Graphics Reuters, EBay, Permira, Thomson Locations: Norwegian, Adevinta, Oslo, Permira

☆ Adevinta confirms acquisition proposal from Blackstone-Permira consortium
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Sept 21 (Reuters) - EBay-backed online classifieds group Adevinta (ADEA.OL) said on Thursday it has received a proposal from a consortium led by Permira and Blackstone (BX.N) regarding a potential offer to acquire the company. Bloomberg News, which had earlier reported on the potential acquisition, said the consortium was studying a possible deal to take Adevinta private. Norwegian media group Schibsted (SCHA.OL), a major Adevinta shareholder, and eBay (EBAY.O) expressed their support for the proposal and will retain part of their current stake, Adevinta said. EBay in 2021 sold part of its stake in Adevinta to Permira for $2.25 billion. Reporting by Rishabh Jaiswal in Bengaluru; Editing by Shweta Agarwal and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Adevinta, Blackstone, Permira, Rishabh, Shweta Agarwal, Shounak Organizations: EBay, Permira, Blackstone, Bloomberg, eBay, Thomson Locations: Oslo, Norwegian, Adevinta, Permira, Bengaluru

☆ Goldman Sachs says these 8 beaten-up stocks will turn profitable this year — and outperform the market
▼ + stars: | 2023-03-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Goldman Sachs has named eight global stocks of companies that will become profitable this year and beat the broader market. In a new research report, the investment bank found that companies that transition from unprofitable to profitable during a market recovery typically outperform the broader market. Goldman Sachs also said stocks of European companies undergoing this transition are already showing signs of outperformance against the Stoxx 600 by 6%. Pan-European classifieds operator Adevinta and Swiss solar power engineering firm Meyer Burger are also expected to turn profitable this year. However, Goldman cautioned that the bank isn't certain the market has reached its bottom, and the trend applies only in a market recovery scenario.

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