Allen & Overy advises Adevinta ASA on the sale of its online classified businesses
19 October 2020
Allen & Overy is advising Adevinta ASA (Adevinta) on the sale of its online classifieds businesses Avito in Morocco, Tayara in Tunisia and Fincaraíz in Colombia to Frontier Digital Ventures (FDV).
Listed on the Oslo Stock Exchange, Adevinta is a global online classifieds specialist. It provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio spans 35 digital products and websites, attracting an average of 1.5 billion average monthly visits.
Listed on the Australian Securities Exchange, FDV specialises in operating online classifieds businesses in emerging markets, with a focus on property and automotive verticals and general classifieds websites. The acquisition of Avito, Tayara and Fincaraíz takes FDV’s portfolio to 15 operating companies across 20 markets.
Corporate partner David Foster, who led the Allen & Overy team, commented: “We are delighted to advise Adevinta on this transaction and to have been able to support them on the optimisation of their portfolio.”
For further information, please contact Amira Alyamani, Amira.Alyamani@allenovery.com, on +971 (0) 4 426 7142.