Paris, 13 October 2020 – Jeantet advised the Malaysian investment fund Frontier Digital Ventures (FDV) in its acquisition of the Moroccan website Avito.ma, the first free ad site in Morocco with more than 5 million visits per month, from the Norwegian company Adevinta ASA, owner of several marketplaces around the world.
This transaction valued at US$40 million also includes the acquisition of two other ad sites: Tayara.tn (in Tunisia) and FincaRaiz.com.co (in Colombia).
For FDV, these acquisitions mark the fund’s ambition to specialise in the development of online classified ad businesses in emerging markets and Morocco, with a particular focus on the real estate and automotive vertical markets and general classified ad websites. These acquisitions will complement its current portfolio of 12 investments in 18 markets.
Founded in 2014 by Shaun Di Gregorio, Frontier Digital Ventures aims to become the global leader in online marketplaces in emerging markets.
Until now, Avito.ma has been owned by the Norwegian company Adevinta ASA, which was spun off from the Schibsted Group in 2019. Adevinta is also the parent company of the French website Leboncoin.fr.
Jeantet’s team advising Frontier Digital Venture included Mohamed Ali Khelil Charef, Local Partner, and Alix Fredet, Associate.
Frontier Digital Venture was also advised by Herbert Smith Freehills and Benslama Lawfirm.
Adevinta was advised by Allen & Overy and Meziou Knani & Khlif.