Wiersholm has advised Schibsted in the voluntary offer for Adevinta

A Wiersholm team comprising Sverre Sandvik, Anne Lise E. Gryte, Petter Thomren Moltu and Henrik Braavold Johansen has advised Schibsted in the NOK 140 billion voluntary offer for Adevinta, announced by Permira and Blackstone on 21 November.

If completed, the deal is said to be the largest ever PE-backed take-private transaction in the Nordics (measured by value). Our team is thrilled to have participated in this landmark deal, where Schibsted will sell shares for NOK 24 billion in cash and will reinvest its remaining part in the offer group for a 13.6% shareholding in the newly privatized company.

Referring to Schibsted, CEO Kristin Skogen Lund stated in the announcement on the deal: “This is an important milestone for Schibsted (…). It is the natural next step in our Adevinta strategy, which started with the spin-off in 2019 based on strategic and financial merits, accelerated through the strategic combination with eBay Classifieds Group in 2020, and continues with the transaction announced today.” Wiersholm is proud to have been trusted as Schibsted’s advisor in all these three strategic steps.

Partner Sverre Sandvik states: “This has been a milestone transaction for our long-time client Schibsted. We are grateful for the trust, and to have worked alongside the Schibsted team led by Andreas Ehrenclou and Fredrik Bjørland, as well as the Clifford Chance team lead by Jennifer Chimanga.”