A consortium of buyout firms led by Permira and Blackstone are reconsidering their bid for Adevinta ASA (Adevinta), an eBay backed European classifieds company, according to a report by Bloomberg.
Quoting unnamed sources familiar with the matter, the report said that the group of buyout firms (which includes the Abu Dhabi Investment Authority) are planning to take the transaction back to their investment committees to discuss whether they still want to go forward with the takeover.
Adevinta had confirmed that it had received a non-binding takeover proposal from the group in late September. The company’s stocks have fallen by as much as 13% since the news of the proposal being reconsidered broke.
Worsening global stock market indexes and central banks continuing to hike interest rates have been noted by report as potential reasons for the possible backtracking by the buyout firms.
