Adevinta ASA (ADE) – OLX Brazil completes the acquisition of 100% of Grupo ZAP

  • The transaction supports OLX’s mission to reinvent the Brazilian consumer model and positions OLX Brazil as a key player in the real estate market

Amsterdam, Oslo and Sao Paulo, 30 October 2020OLX Brazil, the 50/50 joint venture between Adevinta ASA (OSE: ADE) and Prosus NV (AMS: PRX), announces today that it has completed the acquisition of Grupo ZAP, announced in March, for a total cash consideration of approximately R$2.9 billion. The investment has been equally financed by OLX Brazil’s two shareholders. The transaction received regulatory approval on 1 October by Cade, the Brazilian antitrust authority. As of today, OLX Brazil starts operating in the real estate market under the OLX, ZAP and Viva Real brands, with complementary positions to meet the different demands of end users, private advertisers and professionals within the sector.

CEO Andries Oudshoorn will continue to lead OLX Brazil while overseeing the two business units, OLX and ZAP, with operations running through the offices in Rio de Janeiro, São Paulo and regional branches. The combined entity will employ a total workforce of approximately 1,600 employees focused on reinventing Brazilians’ consumption model, of which 400 are tech specialists. 

Andries Oudshoorn, CEO of OLX Brazil, comments: “With this acquisition, OLX Brazil strengthens its position in the Brazilian real estate market. Combining with Grupo ZAP will enhance the end-to-end experience for our users, professional customers and strategic partners. Our customers will benefit from integrating DataZAP’s data intelligence together with the existing high volume of data from OLX real estate, which positions ZAP as an important source of information with respect to the Brazilian real estate segment. The acquisition will also drive value creation on other strategic verticals within OLX Brazil.

New structure of the Real Estate vertical

With the acquisition of Grupo ZAP, OLX Brazil takes a leading role in the Brazilian online real estate market. Together, OLX, ZAP and Viva Real platforms list 14 million real estate ads, with an average of 70 million visits per month and more than 40,000 professional clients (real estate agents, brokers and developers). In 2019, Grupo ZAP had net revenues of R$232.4 million and EBITDA of R$-15.8 million, with an average of 28 million visits per month.  Despite the negative impact of Covid-19, Grupo ZAP year-to-date revenues as of September 2020 are above those of 2019 for the same period, and the company is now already EBITDA break-even. 

The transaction reinforces the strategic importance and relevance of the real estate segment for OLX Brazil and occurs at a time of accelerated digitalisation and overall growth in this sector, driven by historically low interest rates  and attractive financing.

Andries Oudshoorn adds: “The offline marketing spend still represents about 70% of the investments made by players in the Brazilian real estate market. Therefore, we see huge potential for digitisation in this sector, with numerous opportunities to create integrated solutions that make the experience of buying, selling or renting properties simpler and safer.” 

Brian Requarth, founder of Viva Real and former chairman of Grupo ZAP, says: “The real estate market is the largest asset class in the world, and is at the beginning of its transformation. The combination of our strengths will bring the Brazilian real estate market into the future. I am sure that OLX Brazil will be able to leverage its strong technology culture and traffic position to accelerate innovation and take ZAP to new heights.” 


Notes to Editor

About Adevinta
Adevinta is a global online classifieds specialist, operating digital marketplaces in 15 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio spans 35 digital products and websites, attracting 1.5 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX Brazil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA and employs 4,700 people committed to supporting users and customers daily. Find out more at

About OLX Group and Prosus
OLX Group is among the world’s fastest-growing marketplaces networks, serving more than 300 million people every month. Building leading destinations for buying, selling, and exchanging products and services, it operates more than 20 consumer brands including Avito, letgo, and OLX. OLX Group’s technology is designed to enable safe and convenient transactions, encouraging reuse to help give items second, third, or even fourth lives. It’s estimated to facilitate approximately 17 million trades every month, ranging from cars and furniture to electronics and clothing. The Group is powered by a team of 6,000 people working from 35+ offices around the world. For more information, visit
OLX Group is the online classifieds business of Prosus, a global consumer internet group and one of the largest technology investors in the world. Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and a secondary listing on the JSE Limited (XJSE:PRX), and is majority owned by Naspers. For more information on Prosus and its companies and investments, please visit

About OLX Brazil
In Brazil since 2010, OLX Brazil has the mission of empowering people to achieve their dreams, reinventing the consumption model. The company is 100% digital and does so through technology developed locally, helping its users to buy and sell almost everything quickly, safely and conveniently. By encouraging reuse, OLX Brazil contributes to the reduction of waste, CO2 emissions and encourages the use of natural resources, giving items a second, third and even fourth life.
The acquisition involved the purchase of 100% of the shares of Grupo ZAP. OLX Brazil shareholders continue to be two of the main global media and marketplaces investment groups: Prosus NV (50%), listed on the Amsterdam stock exchange and mostly controlled by Naspers Ltda, and Adevinta ASA (50%), listed on the Oslo stock exchange and controlled by the Norwegian group Schibsted.`£

About Grupo ZAP
Grupo ZAP is the result of the merger of ZAPImóveis and Viva Real in 2017. ZAPImóveis was created in 2000 and is indirectly owned by some of Grupo Globo’s shareholders  since 2013, while Viva Real, on its turn, was launched in 2009. Grupo ZAP has the mission to transform the way the real estate market operates through technology. With 26 offices across the country, it has a relevant database in the market, developing products, intelligence, services and information to generate gains and rightful decisions to parties involved.

Adevinta IR contacts
Marie de Scorbiac
Head of Investor Relations
+33 6 14 65 77 40

Adevinta Media contacts 
Mélodie Laroche
Corporate Communications
+33 6 84 30 52 76

Prosus IR contact  
Eoin Ryan
Head of Investor Relations

OLX Group / Prosus Media contact 
Ana Garcia
Head of Communications OLX Group

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act