Private Equity Giants Eye Multi-Billion Euro IPO for Mobile.de
In a move that could shake up the European tech landscape, private equity powerhouses Permira and Blackstone are exploring a massive initial public offering (IPO) for German online auto marketplace Mobile.de. This subsidiary of Norway’s Adevinta has been making waves since its $13.1 billion buyout in 2023, and a listing could value the company at a staggering 10 billion euros ($10.42 billion).
Adevinta’s Ambitious Plans
As part of its strategy to divest assets, Adevinta has been working to separate its holdings, including Mobile.de. This process, which may take up to a year, involves untangling shared information technology systems. The company has already made progress in this area, with the sale of Distilled, owner of property site Daft.ie, marking a significant milestone.
Mobile.de’s Impressive Performance
Mobile.de’s financials are certainly impressive, with the company generating 400 million euros ($416.76 million) in revenue and 240 million euros in earnings before interest, tax, depreciation, and amortization (EBITDA) in 2023. These numbers make it an attractive prospect for investors, and a Frankfurt listing is likely, according to sources.
A Significant Divestment
If successful, the IPO would mark one of the most significant divestments for Adevinta since its privatization. The company, once the world’s largest classifieds group, has been working to restructure its assets and focus on core operations.
Early Stages, But Promising Signs
While talks are still in the early stages, and may not necessarily lead to a transaction, the signs are promising. Permira and Blackstone have been in discussions with advisers, and the potential for a 2026 listing is very real. As the situation develops, one thing is clear: Mobile.de is a company to watch.
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