Thommessen has acted as Norwegian legal counsel to eBay in its sale of its Classified Group to Oslo Stock Exchange listed Adevinta for a headline value of approx. USD 9.2 billion, creating the world's largest online classifieds group.
eBay will receive approximately USD 2.5 billion of cash and approximately 540 million shares of Adevinta at completion of the transaction, representing a 44 % stake, of which 33.3 % are voting shares. The transaction is expected to be completed by Q1 2021.
Team Thommessen's core team has consisted of Hans (Hasse) Cappelen Arnesen, Ylva B. Gjesdahl Petersen and Nanette Arvesen. Thommessen was acting together with eBay's US counsel Wachtell, Lipton, Rosen & Katz in this transaction. Goldman Sachs and LionTree were financial advisors to eBay.