In it, Adevinta informed investors that the 2022 portfolio optimisation review had been completed, with the launch of the sale process for Hungary.”

The company is present in the Hungarian e-commerce market with the Jófogás classified ads site, the Hasznaltautó site for used cars and online car magazine Autónavigátor since 2010.

According to its website, Adevinta employs 130.

The company told website Mmonline on Friday that further details regarding the sale and the buyer will be released on the day of the official announcement.

“We have initiated the sale process and are confident that we will find new owners who are able to provide the focus and expertise needed to achieve the full potential of the website”, the company said.

Géza Palocsay, considered one of the most influential e-commerce experts in Hungary, left his job as the head of Adevinta’s operations in Hungary after eight years last March, and was replaced by Artsiom Rabtsevich.

With its head office in Norway, Adevinta is a leading online classified ads specialist, operating 25 digital marketplaces in 11 countries, and employing more than 8,000 people.