March 25, 2019 / 8:33 AM / 2 months ago

Adevinta CEO eyes debt, shares to pay for acquisitions

OSLO, March 25 (Reuters) - Classified ads group Adevinta, which is set to list in Oslo on April 10, can take on more debt and issue new shares to pay for acquisitions as it seeks to continue its rapid expansion, Chief executive Rolv Erik Ryssdal told Reuters.

Adevinta, a spin-off from media firm Schibsted, expects its ‘largely organic’ growth rate to be 15-20 percent a year in the medium- to long-term, while any bigger deals would come as an addition, he said.

“We have the toolbox that can allow us to be active in industry transactions,” Ryssdal said in a telephone interview.

“We have the ability to take on more debt ... and we’ll have shares that can be used in transactions,” he added.

Adevinta’s brands include France’s Leboncoin, Brazil’s OLX and Britain’s Shpock, among others. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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