In a recent virtual Extraordinary General Meeting (EGM) held on May 30, Adevinta received unanimous approval to delist from the Oslo Stock Exchange and convert from a public limited liability company to a private limited liability company. This decision follows the completion of its acquisition earlier in the week by Aurelia Bidco Norway AS, a consortium directed by private equity fund Permira and investment firm Blackstone, which are now the sole shareholders of Adevinta. The newly private entity will see a board composed of chairperson Felicity Guttormsen and Trude Kvalyseter. Additionally, the motion to merge Adevinta’s two share classes into a single class of ordinary shares with equal rights was passed. Adevinta was originally spun off from Schibsted in 2019 and it currently operates marketplaces in six Western European nations and maintains joint ventures in Ireland and Brazil.
Private Equity, Digital Marketplaces, Corporate Finance,Norway, Western Europe
https://aimgroup.com/2024/05/31/motions-to-delist-adevinta-take-it-private-approved-at-egm/