eBay has reached a definitive agreement to sell off its eBay Enterprise division for a consideration of US $925 million to an investment consortium which includes Sterling Partners, Longview Asset Management and Innotrac Corporation together with businesses owned by Permira Funds. This coincides with the demerger of PayPal which will now trade as a separate business. Trading of PayPal shares on Nasdaq has been brisk, valuing the financial services business, which has an estimated 160 million customers, at £33 billion.
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