Adevinta Completes Refinancing and Announces Capital Distribution
Deal News | Jun 02, 2025 | Aim Group
Norwegian company Adevinta, partly owned by Vend (formerly Schibsted Marketplaces) with a 14% stake, has completed a capital distribution following the refinancing of its external debt facilities. This comes alongside Adevinta's divestment of its interests in joint ventures Distilled in Ireland and Willhaben in Austria. Acquired by a consortium led by private equity firms Blackstone and Permira over a year ago, Adevinta's refinancing rumors began circulating in February. Goldman Sachs spearheaded a €6.5 billion loan for Adevinta, an operator of marketplaces. Vend received €336 million from the distribution, including NOK500 million in cash proceeds previously disclosed. The Tinius Trust, owning a 23% share of Schibsted Media, will receive NOK900 million. Schibsted Media and Marketplaces separated in June last year. The CFO of Vend, Per Christian Mrland, stated that this move underscores Adevinta's value creation and Vend's commitment to conservative capital allocation. Adevinta is rumored to be planning a sell-off of Spain-based assets and an IPO for its Germany-based auto marketplace, Mobile.de, which may yield further shareholder distributions.
Sectors
- Private Equity
- Finance
- Media and Marketplaces
Geography
- Norway – Both Adevinta and Vend (formerly Schibsted Marketplaces) are based in Norway.
- Ireland – Adevinta's joint venture interests in Ireland have been divested as part of this deal.
- Austria – Adevinta's joint ventures in Austria, specifically Willhaben, were also divested.
- Spain – Adevinta is planning to sell some or all of its assets in Spain.
- Germany – Adevinta is preparing for an IPO of its Germany-based auto marketplace, Mobile.de.
Industry
- Private Equity – Adevinta has been acquired by a consortium led by private equity firms Blackstone and Permira.
- Finance – The completion of a refinancing deal involving a €6.5 billion loan led by Goldman Sachs is a major financial event.
- Media and Marketplaces – Adevinta, Vend, and Schibsted's operations are primarily in media and digital marketplaces, which play a crucial role in the article.
Financials
- €6.5 billion – Loan led by Goldman Sachs for Adevinta's refinancing.
- €336 million – Vend's share of the capital distribution from Adevinta.
- NOK900 million – Capital distribution amount received by Tinius Trust.
- NOK500 million – Cash proceeds already disclosed regarding Vend's share.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Adevinta | Target | Company | A Norwegian company involved in digital marketplaces, undergoing refinancing and capital distribution. |
| Vend | Shareholder | Company | Formerly Schibsted Marketplaces, holds a 14% stake in Adevinta. |
| Blackstone | Private Equity Firm | Company | Part of the consortium that acquired Adevinta. |
| Permira | Private Equity Firm | Company | Part of the consortium that acquired Adevinta. |
| Goldman Sachs | Lender | Company | Led the €6.5 billion loan for Adevinta's refinancing. |
| Schibsted Media | Former Parent Company | Company | Previously united with Schibsted Marketplaces before splitting in June. |
| Tinius Trust | Stakeholder | Charity | Owns a 23% stake in Schibsted Media. |