Economy. Leboncoin could go under the Anglo-Saxon flag

Economy.  Leboncoin could go under the Anglo-Saxon flag

A consortium led by the American funds Blackstone and the British Permira announced on Tuesday to offer 141 billion crowns (12.1 billion euros) to buy the Norwegian online advertising specialist Adevinta, owner in particular of the Leboncoin site.

The offer has already received the support of shareholders representing 72.3% of Adevinta’s capital, including the two main ones, the American eBay and the Norwegian Schibsted, the parties specify in a joint stock market press release.

Born from a split with Schibsted, Adevinta is a group specializing in online advertisements which, in addition to Leboncoin, its most lucrative jewel, holds among others ArgusAvendrealouer and Agriaffaires in France as well as assets in Germany (, Spain, Benelux and Italy. Antoine Jouteauthe former boss of Boncoin, became its CEO last year.

In a separate press releaseAdevinta’s board neither recommended nor discouraged the investors’ proposal, emphasizing that “shareholders should be given the opportunity to form their own opinion on the merits of the offer.”

One of the biggest buyouts of the year in Europe

At 115 crowns per share, the offer combining cash and shares represents a premium of 54% compared to the average price of Adevinta shares in the months preceding September 19, the date around which investors publicly announced their interest in the group, boosting the stock on the stock market. On Tuesday, before the takeover bid was announced, the stock closed at 106.1 crowns on the Oslo Stock Exchange. The offer therefore represents a premium of around 8%.

If it goes through, the takeover would be one of the largest of the year in Europe.

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