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Milbank
Full Credential Description
Milbank LLP advised financing sources on a significant private credit loan financing for the voluntary tender offer to acquire all outstanding ordinary Class A shares in Adevinta ASA, a leading online classified advertising business. The offer, made through Aurelia Bidco Norway AS, proposed a price of NOK115 per share, valuing Adevinta at approximately NOK141 billion, which translates to a total transaction value of around €14 billion when including debt. This transaction is notable as it represents one of the largest European buyouts announced in 2023 and, if completed, would rank among the largest private credit financings globally. Milbanks European Leveraged Finance Capital Markets team has had a successful year, having previously advised on two other major European private credit deals in 2023, specifically EQTs take-private of Dechra and One Rocks acquisition of Constantia Flexibles. The team involved in this transaction included partners Sarbajeet Nag, Suhrud Mehta, Laura Bonamis, and Davide Mencacci, along with special counsel Varun Natteri Mangadu and Trevor Truman, and several associates.