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Adevinta advised on divestment of Gumtree Aus, Carsguide and Autotrader Aus
Herbert Smith Freehills has advised Adevinta on the divestment of its online classifieds businesses — Gumtree Australia, Carsguide and Autotrader Australia — to The Market Herald for total cash consideration of US$60 million.
Jess Feyder
Firm: Herbert Smith Freehills (Adevinta); Clayton Utz (The Market Herald)
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Deal: Adevinta has divested its online classifieds businesses to The Market Herald.
Value: US$60 million
Area: Corporate
Key players: The Herbert Smith Freehills team was led by corporate partner Brad Russell and senior associate Mia Harrison-Kelf, aided by core team Shonie Kaushik and Alessandra Hayward.
They were supported by Peter Jones in technology, media and telecommunications, Phil McMahon and Anthony Economou in finance, Tess Mierendorff in intellectual property, and Rommo Pandit in employment.
Deal significance: Adevinta acquired the Gumtree Australia, Carsguide and Autotrader Australia businesses as part of its acquisition of eBay Classifieds Group (the classifieds arm of eBay) and is selling the businesses as part of its focus on investment in its five core European markets.
Adevinta is a leading global provider of digital marketplace services, operating trusted classifieds brands across 14 countries.
“We are delighted to have supported Adevinta throughout this complex transaction,” said Mr Russell.
“It has provided an opportunity for our talented lawyers to collaborate with Adevinta to achieve a very positive outcome.”
“It was great to work with the Adevinta team, with everyone bringing a very positive and practical approach to executing this strategic transaction,” said Ms Harrison-Kelf.
The team worked alongside Macquarie Bank and KPMG in advising Adevinta.
The deal follows on from a productive past few years for the team, who also advised: Uber on its acquisition of Australian peer-to-peer car-sharing platform Car Next Door, NCS.
Along with Singtel’s technology services arm, on its acquisition of Australian IT services company The Dialog Group, and Mr Yum, mobile ordering and payment platform, on its acquisition of MyGuestList and Sprout.
