CAPE TOWN, South Africa--(BUSINESS WIRE)--Naspers announced a transaction on 23 October 2015 to increase its stake in Avito (the leading Russian online classifieds platform) from 17,4% to 67,9% for a cash consideration of US$1,2bn, subject to regulatory approvals.
Shareholders are advised that all pre-conditions have been met and the transaction closed effective 15 December 2015.
Cape Town
15 December 2015
Sponsor: Investec Bank Limited
About Naspers:
Founded in 1915, Naspers is a broad-based multinational internet and media group offering services in more than 130 countries. Its principal operations are in ecommerce (i.e. classifieds, online retail, marketplaces, online comparison shopping, payments and online services), video-entertainment and print media. The group also has minority investments in listed, integrated social-network platforms Tencent (SEHK 0700) and Mail.ru (LSE: MAIL). Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com.
About Avito:
Avito is the largest classifieds site in Russia and one of the top-3 classifieds sites in the world. More than 35m unique monthly users visit www.avito.ru through desktop and mobile devices. More than 50% of Avito’s traffic now comes from mobile. Avito’s users post more than 500 000 new ads every day, with the overall number of active listings being over 32m.