Milbank LLP is advising the financing sources on Permira and Blackstone’s private credit loan financing for a voluntary tender offer to acquire all of the outstanding ordinary Class A shares in Adevinta ASA. The offer is being made through Aurelia Bidco Norway AS, a Norwegian private limited liability company established for the purpose of the offer. The price per Adevinta share offered to the Adevinta shareholders is NOK115 and corresponds to an equity value of Adevinta of approximately NOK141 billion, which including debt translates into a transaction value of approximately €14 billion. Adevinta is the world’s largest online classified advertising business, with an extensive footprint and leading marketplace brands. The transaction is one of the largest European buyouts announced in 2023 and financing, if completed, would be one of the largest on record, globally, for a private credit financing. This continues a successful year in the private credit space for Milbank’s European Leveraged Finance/Capital Markets team, which previously advised the financing sources on two of the largest European private credit deals in 2023, EQT’s take private of Dechra and One Rock’s acquisition of Constantia Flexibles. The Milbank team was led by European Leveraged Finance/Capital Markets partners Sarbajeet Nag, Suhrud Mehta, Laura Bonamis, and included partner Davide Mencacci, special counsel Varun Natteri Mangadu and Trevor Truman, and associates Michael Gatter, Abbey Dalgleish, Pranahita Srinivas, Andrew Mavers, Obinna Mezu, David Zhu and trainee solicitors Tom Shurman and Freddie Fisk.