Adevinta Sells Moroccan Classifieds Giant Avito in $35 Million Deal
An agreement has been negotiated between Adevinta, Avito’s parent company, and the Malaysian Frontier digital ventures (FDV). The transaction involves the sale of online classifieds activities in Morocco.
This agreement also takes into account two other marketplaces, namely Tayara in Tunisia and Fincaraíz in Colombia, for a total cost of 54 million Australian dollars, equivalent to nearly 356 million dirhams, according to an FDV press release.
Avito, Tayara and Fincaraíz will now benefit from the unwavering support of the Malaysian economic operator group. For Shaun Di Gregorio, CEO and founder of FDV, "these acquisitions will complement his group’s current position in Morocco. They will also facilitate FDV’s entry into the Colombian and Tunisian markets".
Already present in Morocco through the site moteurs.ma, FDV is now establishing itself in the marketplace market thanks to this agreement signed with Avito, the leader in real estate and automotive. This site, created in 2012, records an average of more than 23 million visits per month and 16,000 new ads per day.
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