The Market Herald Limited (ASX:TMH) agreed to acquire Gumtree AU Pty Limited from Adevinta ASA (OB:ADE) for $60 million on August 25, 2022. The proposed acquisition of Gumtree Australia, Carsguide and Autotrader Australia will be funded by a vendor loan of approximately AUD 60.1 million and an Entitlement Offer which will raise approximately AUD 26.55 million. The proceeds from the transaction will be used to improve Adevinta's leverage ratios. Macquarie Capital acted as financial adviser to Adevinta. The transaction is expected to close by the beginning of Q4 2022. Bradley Russell, Mia Harrison-Kelf, Shonie Kaushuk, Alessandra Hayward of Herbert Smith Freehills acted as legal advisor to the Gumtree AU and Adevinta ASA in the transaction. Clayton Utz acted as legal advisor to The Market Herald.

The Market Herald Limited (ASX:TMH) completed the acquisition of Gumtree AU Pty Limited from Adevinta ASA (OB:ADE) on August 31, 2022. As of December 6, 2022, Adevinta has agreed to waive the Initial Prepayment Event and will instead require the repayment of the full AUD 60.1 million amount by 31 March 2023. As on March 1, 2023, The terms of deal revised to $60.9 million.