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EBAY INC 8-K Report, Acquisition Completed (May 29, 2024)

Reports
Acquisitions & Dispositions·Exhibits & Filings
Filing Date
Filed May 29, 2024
Period End
May 29, 2024
Security
EBAY
In the record · 2016–202610-K1710-Q338-K128

EBAY filed 17 annual reports (10-K), 33 quarterly reports (10-Q) and 128 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’20Mar ’20
  2. Leadership change8-K · Mar ’22Mar ’22
  3. Leadership change8-K · Mar ’26Mar ’26

01—Abstract

Summary

Summary of the 8-K filed May 29, 2024. Cited figures are marked; the original filing is the authoritative source.

eBay Inc. has officially completed the sale of its stake in Adevinta ASA.

This transaction involved selling approximately 227 million shares to Aurelia BidCo 1 Norway AS for roughly $2.4 billiona in cash. Additionally, eBay transferred another block of Adevinta shares, approximately 177 million, to Aurelia Netherlands TopCo B.V. in exchange for shares in TopCo. The completion of these transactions, originally agreed upon in November 2023 and amended in May 2024, marks a significant divestiture for eBay.

02—Key points

Key Highlights

  1. Completion of Adevinta ASA share sale on May 29, 2024.
  2. Received approximately $2.4 billion in cash from the sale of shares to Aurelia BidCo 1 Norway AS.
  3. Received shares in Aurelia Netherlands TopCo B.V. in exchange for other Adevinta shares.
  4. The transactions were executed under agreements initially dated November 21, 2023, and amended on May 10, 2024.
  5. eBay plans to use the cash proceeds for general corporate purposes, including potential share repurchases, debt repayment, capital expenditures, and acquisitions.
  6. Further details on capital allocation plans will be provided with the Q2 2024 earnings report.

03—Questions

Frequently Asked Questions

  1. What was the main event reported in this 8-K filing?

    The main event is the completion of eBay Inc.'s sale of its shares in Adevinta ASA.

  2. How much cash did eBay receive from the Adevinta sale?

    eBay received approximately $2.4 billion in cash from the sale of 227,115,592 shares of Adevinta ASA to Aurelia BidCo 1 Norway AS.

  3. How does eBay intend to use the cash proceeds from the Adevinta sale?

    eBay intends to use the cash proceeds for general corporate purposes. This may include share repurchases, repayment of indebtedness, capital expenditures, and potential acquisitions. More specific details on capital allocation will be shared in the second quarter 2024 earnings report.

  4. Will eBay provide pro forma financial information for this transaction?

    Yes, the filing states that any required pro forma financial information will be filed by amendment to Item 9.01(b).

04—Continue

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