Permira, the London-based private equity firm that owns Dr. Martens, is preparing a $ 10 billion (£ 7.6 billion) takeover of eBay’s classified ads division.
Sky News has learned that Permira is in talks with Carsales.com, an Australian-listed company, about a joint offer for the eBay unit, which has been put up for sale under increasing pressure from activist investors.
Discussions between Permira and Carsales.com are at an early stage and may not result in a formal offer from them, according to insiders.
However, their potential alliance could make them a credible bidder at the eBay small business auction, which is expected to generate the majority of its revenue in Europe.
Offers are to be filed for the division this month, although it is not clear on Friday whether the rapid global spread of the coronavirus could have an impact on the process.
Other bidders who have approached eBay are expected to include Axel Springer, the German media company controlled by the buyout company KKR; the Naspers Internet group; and Autoscout, which is supported by private equity investor Hellman & Friedman.
Sources said that eBay does not allow private equity firms to submit bids for its classified ad unit unless they own or partner with a relevant strategic bidder.
EBay, which is best known for its main activity in the market, reported last month that it plans to sell the division.
The company was pressured by activist investors Elliott management and Starboard Value to sell its other businesses.
In December, she announced the sale of the ticketing company StubHub to compete with Viagogo.
EBay was recently approached by Intercontinental Exchange, the owner of the New York Stock Exchange, about a takeover, but discussions were quickly halted.
Permira declined to comment on Friday.
Permira, the London-based private equity firm that owns Dr. Martens, is preparing a $ 10 billion (£ 7.6 billion) takeover of eBay’s classified ads division.
Sky News has learned that Permira is in talks with Carsales.com, an Australian-listed company, about a joint offer for the eBay unit, which has been put up for sale under increasing pressure from activist investors.
Discussions between Permira and Carsales.com are at an early stage and may not result in a formal offer from them, according to insiders.
However, their potential alliance could make them a credible bidder at the eBay small business auction, which is expected to generate the majority of its revenue in Europe.
Offers are to be filed for the division this month, although it is not clear on Friday whether the rapid global spread of the coronavirus could have an impact on the process.
Other bidders who have approached eBay are expected to include Axel Springer, the German media company controlled by the buyout company KKR; the Naspers Internet group; and Autoscout, which is supported by private equity investor Hellman & Friedman.
Sources said that eBay does not allow private equity firms to submit bids for its classified ad unit unless they own or partner with a relevant strategic bidder.
EBay, which is best known for its main activity in the market, reported last month that it plans to sell the division.
The company was pressured by activist investors Elliott management and Starboard Value to sell its other businesses.
In December, she announced the sale of the ticketing company StubHub to compete with Viagogo.
EBay was recently approached by Intercontinental Exchange, the owner of the New York Stock Exchange, about a takeover, but discussions were quickly halted.
Permira declined to comment on Friday.