AMSTERDAM — According to Steve Kooyers, a partner at private equity company Apax Partners, breaking up Adevinta “is the only viable strategy” for its new owners.

The Norway-based marketplaces conglomerate is currently in the process of being acquired by a consortium led by Blackstone Group and Permira. The deal is expected to close by the end of this month.

Alongside European Internet Ventures founder Malcolm Myers, Kooyers was speaking to AIM Group principal Jonathan Turpin on the second day of the AIM Group’s AutosBuzz conference.

Kooyers said that the buyers of Adevinta were probably “not thinking of it as a single company.”

To justify the “hefty premium” they paid, the buyers will likely “have to take out costs,” he added.

Kooyers cited Germany-based auto marketplace as an Adevinta subsidiary that was ripe for an IPO in the next 12-24 months.

“Some things might be sold to someone like me,” he quipped.

Myers largely agreed with this assessment, maintaining that Adevinta had “too much complexity in its current configuration.”

“Cars, real estate and jobs and nuanced — the sum of the parts will be worth more than the whole … A breakup is the most likely outcome,” he said.

Kooyers also expressed skepticism of the view that would “eat the world” in automotive.

“Marketplaces with the right products and tools are very well positioned … The risk comes from poor execution,” he opined.

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