This transaction results in net proceeds of $3.1 billion
eBay sells StubHub. Source: shutterstock.com
eBay announced it has completed the sale of StubHub to viagogo for $4.05 billion in cash.
The completed sale of StubHub to viagogo is a great outcome both in terms of the $4.05 billion sale price and the potential StubHub has with its new owner. The StubHub transaction reinforces our commitment to creating shareholder value and is consistent with other steps we have taken such as margin improvement, share buybacks and issuing dividends. We are operating with discipline and focus, improving financial performance and delivering improved customer experiences. On behalf of the eBay team, we’re excited to see how StubHub evolves in its next phase and benefits fans, partners and employees
After the divestiture of StubHub completed, eBay will update its capital allocation plans along with the first quarter and full-year guidance figures. eBay aims to expand its share buyback plans for 2020 from $1.5 billion to $4.5 billion.
Adjusting for the loss of eBay, the company now expects Q1 revenue between $2.31 billion and $2.36 billion. For the whole year, the company is believed to gain income between $9.56 billion and $9.76 billion.
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