Global online classified specialist Adevinta has sold all its shares in recruitment marketplace InfoJobs Brazil to Spain-based internet company RedArbor, which specializes in jobs and real estate services. The terms of the deal were not disclosed. RedArbor was the minority shareholder in InfoJobs Brazil pre-deal.

In an announcement, Adevinta said it had completed the sale of its 76.2% stake in InfoJobs Brazil.

Latin America-focused RedArbor acquired the shares through its subsidiary CompuTrabajo Holding and now controls 100% of the business, according to a separate news release.

Launched in 2004 as Infoemprego, InfoJobs Brazil acquired its present name following a joint venture formed between RedArbor founder David González Castro and Adevinta’s parent company, Norway-based Schibsted, in 2007.

InfoJobs Brazil is one of the Top 3 recruitment sites in the country, with 44 million registered candidates. It will join forces with job vertical CompuTrabajo to “create a regional leader in online job marketplaces, with a significant base of regular active users.”

Adevinta has already expressed its intention to focus on its five core territories: Benelux (Belgium and the Netherlands), France, Germany, Italy and Spain, when it unveiled its growth plan last year.

“InfoJobs Brazil has seen incredible growth in recent years, developing into the leading jobs marketplace in the country. The sale to RedArbor will also enable Adevinta to focus on the next stage of our growth, as we continue to build momentum in our five core European markets,” said Adevinta CEO Rolv Erik Ryssdal.

Castro, who founded RedArbor in 2013, added, “With this operation, Redarbor, adding Infojobs Brazil to Computrabajo, consolidates its leading position in job marketplaces in Latin America. I am very confident in the success of this acquisition because of the great potential I see in Infojobs Brazil, together with Computrabajo and our software HR solutions.”

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