EBay to sell its ticketing unit StubHub to ticket reseller Viagogo. The deal is expected to close by the end of the first quarter of 2020
) will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash, the companies said on Monday, nearly a year after the ecommerce major came under pressure from activist investors to hive off some of its businesses.
Elliott valued StubHub between $3.5 billion and $4.5 billion, while eBay Classifieds between $8 billion and $12 billion. Following the activist investors’ request, eBay made changes to its board of directors in March. It announced a review of its StubHub and eBay Classifieds businesses as part of an agreement with activist investors to avert a proxy contest.
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