Adevinta sets up committee to review acquisition offer

FILE PHOTO: Executives of Norwegian company Adevinta celebrate the firm’s first day of trading at the Oslo stock exchange

HELSINKI (Reuters) - Norway's Adevinta said on Tuesday it had set up an independent committee to review an acquisition offer from an investor consortium led by Permira and Blackstone.

Adevinta's shares rose more than 20% after the bid was announced on Sept. 22 and backed by the company's large shareholders Ebay and Schibsted.

The online marketplace operator added the committee consists of five board directors who are not representatives of Adevinta's main shareholders.

Adevinta had chosen Citigroup, JPMorgan as financial advisers and BAHR, Cleary Gottlieb and Skadden as legal advisers.

(Reporting by Essi Lehto; Editing by Richard Chang)