Schibsted – Acquisition of shares in AutoVex

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We advised the Norwegian Schibsted group in a transaction where Schibsted Nordic Marketplaces purchased 79% of the share capital of AutoVex (Alltvex Oy) from its shareholders.

AutoVex is the leading used car C2B auction marketplace in Finland, allowing consumers to conveniently get offers for their used car via a digitally managed auction directed exclusively towards car dealers. The company was founded in 2018 and currently employs around 20 people in Helsinki.

Schibsted, listed on Oslo Børs, is a family of digital brands with a strong Nordic position and around 6,000 employees. Schibsted also already has several leading brands in its Motor vertical across the Nordics, including names such as FINN, Nettbil, Carweb and Honk in Norway, Bilbasen and DBA in Denmark and Blocket and Bytbil in Sweden.

With the acquisition of AutoVex, Schibsted is building on its expertise and expanding its offering in Finland with a new concept. Further, the acquisition shows Schibsted’s commitment to continue to explore opportunities in the Finnish market and strengthens its marketplace position that is already established through Oikotie and Tori.fi with new verticals.