Adevinta Considers IPO or Sale of Auto Marketplace Mobile.de

Adevinta, which is owned by Permira and Blackstone, is pursuing a “dual track process” in which both an IPO and a sale of Mobile.de are being considered, the Financial Times reported Wednesday (Oct. 8), citing unnamed sources.

No final decision has been made, according to the report.

Adevinta did not immediately reply to PYMNTS’ request for comment.

Mobile.de is worth 10 billion euros (about $11.6 billion) and is one of Adevinta’s largest businesses, according to the report. An IPO of the company would be one of Europe’s biggest after a lengthy slowdown in the market, per the report.

Adevinta was spun out of Norwegian media company Schibsted in 2019, merged with eBay’s classifieds business in 2020, and was acquired in a 14-billion-euro enterprise value deal led by Permira, Blackstone, General Atlantic and TCV in 2023, according to the report.

Since the acquisition, the new owners have begun to split up Adevinta, per the report.

Adevinta announced the sale of its Spanish business to EQT in July, saying Adevinta aimed to focus on its portfolio of businesses across the rest of Europe and channel its investment, resources and support to them.

“We are delighted that EQT has acquired our business in Spain,” Adevinta Executive Chair Jacob Aqraou said in a July 21 press release. “With its strong track record of scaling businesses, driving innovation and supporting long-term growth, we are confident it will help the Spanish platforms to further thrive and succeed.”

In March, Sprints and Styria Media Group announced their plan to have their joint venture acquire Adevinta’s shares in Austrian digital consumer marketplace Willhaben.

The companies said the combination of Sprints’ experience as an investor in online marketplaces and Styria’s strength in the Austrian media and digital sector, local market knowledge and strong network would position them to drive Willhaben’s continued growth and innovation.