×
516
Fashion Jobs
FOUR SEASONS RECRUITMENT
Ecommerce Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Sales Supervisor
Permanent · LONDON
TOO FACED
Too Faced Business Manager, Boots - Oxford
Permanent · OXFORD
TOO FACED
Too Faced Business Manager - Boots, Leeds Trinity
Permanent · LEEDS
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
360 RESOURCING
Account Manager
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Brompton Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
HAYS RETAIL
Retail Operations Manager
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CAMBERLEY
NEXT RETAIL LTD
Warehouse Administrator
Permanent · DONCASTER
HAYS RECRUIMENT
E-Commerce Manager
Permanent · LONDON
HAYS RECRUIMENT
Eyewear Account Manager South London
Permanent · LONDON
NEXT RETAIL LTD
Home Design Consultant
Permanent · CARDIFF
NEXT RETAIL LTD
Sales Coordinator - Permanent
Permanent · LONDON
360 RESOURCING
Head Office Recruitment Consultant - Fashion Retail
Permanent · LONDON
360 RESOURCING
Temps Controller / Temps Recruitment Consultant - Fashion Retail
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Production Manager-Shoes & Slg-Luxury- London Salary up to £70k
Permanent · LONDON
DEPLOY LONDON
International Sales & Marketing Manager
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Digital Marketing Manager
Permanent · LONDON
TOO FACED
Too Faced Business Manager - Boots Brentwood, UK
Permanent · BRENTWOOD

Ebay to sell ticketing unit StubHub for $4.05 billion

By
Reuters API
Published
today Nov 25, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ebay Inc will sell its ticketing unit, StubHub, in an all-cash $4.05 billion (3 billion pounds) deal to ticket reseller Viagogo Ltd, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.




In January, activist investors Elliott Management Corp and Starboard Value had urged eBay to sell its ticket sales business and eBay Classifieds Group as part of a plan that could double the company's value.

Elliott valued StubHub between $3.5 billion and $4.5 billion, while eBay Classifieds between $8 billion and $12 billion.

Following the activist investors' request, eBay made changes to its board of directors in March. It announced a review of its StubHub and eBay Classifieds businesses as part of an agreement with activist investors to avert a proxy contest.

Shares of eBay were up nearly 3% at $36.02 in early trade on Monday.

Elliott Management declined to comment on the development, while Starboard Value did not immediately respond to Reuters' request for a comment.

The deal, which is expected to close by the end of the first quarter of 2020, follows the exit of former Chief Executive Officer Devin Wenig in September, following his differences with the company's revamped board.

Goldman Sachs & Co LLC acted as financial adviser to EBay, while Wachtell, Lipton, Rosen & Katz and Quinn Emanuel acted as legal advisers, according to the joint statement by the companies.

J.P. Morgan is acting as financial adviser to Viagogo, while Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP are its legal advisers.
 

© Thomson Reuters 2020 All rights reserved.

Tags :
Others
Business