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Naspers owned Prosus in bid to buy EBay classifieds - Naspers-owned Prosus in bid to purchase EBay classifieds

Naspers-owned Prosus in bid to purchase EBay classifieds

Prosus NV handed within the highest provide for EBay’s classifieds unit, placing the Naspers-owned enterprise in pole place to win one of many largest public sale processes this yr, folks acquainted with the matter mentioned.

The EBay board is scheduled to fulfill Friday to formally select a most popular bidder, the folks mentioned, asking to not be recognized as a result of the data is personal.

A sale of the classifieds enterprise was anticipated to fetch greater than $eight billion, Bloomberg Information has reported.

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Prosus is competing in opposition to a personal fairness consortium — backed by Blackstone Group Inc., Permira and Hellman & Friedman — and a separate proposal from Norwegian on-line market Adevinta ASA, the folks mentioned.

The scenario is fluid, and one of many rival bidders might nonetheless emerge on high, in accordance with the folks.

Shares of Prosus had been down 0.1% at 11h53 in Amsterdam, giving the e-commerce investor a market worth of 138 billion euros ($158 billion). The Euro Stoxx Know-how Index rose 1%.

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The EBay classifieds enterprise contains quite a few on-line marketplaces separate from the corporate’s eponymous public sale platform.

Its manufacturers embody Kijiji, which is usually utilized in Canada and Italy, and Gumtree, a classifieds web site common within the UK, Australia and South Africa. It additionally owns Bilbasen, a Danish on-line automobile market, and British automotive search web site Motors.co.uk.

Prosus submitted an all-cash provide, whereas Adevinta’s bid was a mixture of money and inventory, the folks mentioned. Representatives for Adevinta, EBay, Prosus and the personal fairness bidders declined to remark.

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EBay mentioned in February it was in lively talks with a number of events a few potential deal for its classifieds enterprise because it responded to stress from activist traders to give attention to its essential on-line market.

Any deal would add to the $239 billion of acquisitions involving know-how corporations introduced this yr, in accordance with knowledge compiled by Bloomberg.

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