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Ebay has agreed to sell its classified ads business to Norwegian group Adevinta in a deal worth $9.2 billion (Sh993 billion), creating the world’s largest classifieds group, the companies said on Tuesday.
Ebay will receive $2.5 billion in cash and 540 million shares of Adevinta, making it the largest shareholder with a 44 per cent stake of the pro forma company, they said.
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