Prosus sells its Avito Group to Kismet, controlled by prominent Russian entrepreneur Ivan Tavrin, for R45 billion. Naspers KismetCapital Avito M&A
Prosus is disposing of Avito, its Russian classifieds business, for approximately R45 billion to Kismet Capital Group.
“Prosus has entered into an agreement through its affiliates OLX Global, OLX, KEH Holdings and MIH Technology Holdings with Radio Reklama Vologda and Infrastructure Holding-2 ,” the company told shareholders on Friday. The Prosus business in Russia was founded by Jonas Nordlanderr and Filip Engelbert in 2007. Avito offers a web-based platform for free online classified advertisements in that country.
Prosus holds an effective interest of 99% in the Avito Group. As at 31 March 2022, being the latest financial year-end for Naspers and Prosus, the net asset value of the Avito Group was $1.39 billion and profit attributable to the Avito Group was $160.3 million . “The aggregate consideration for the acquisition of the Avito Group by the purchasers will be satisfied by the purchasers through a mixture of available cash resources and debt financing procured by the purchasers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prosus moves closer to Russian exitGroup agrees to sell its Russian classifieds businesses and operations for almost R45bn
Read more »
Acsa investing to get airports up to speedOR Tambo and other airports racing to get ready for the December high season.
Read more »
Mbappe breaks silence on PSG 'exit' | Kickoff'I was shocked.' Kylian Mbappe has now finally spoken out following reports suggesting he is ready to leave Paris Saint-Germain. 😲 Here's what he said! ➡
Read more »
SA ready to share skills, mining expertise with Saudi Arabia: Ramaphosa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.President Cyril Ramaphosa has told business people and representatives of the Saudi government that South Africa is ready to share skills and mining expertise with them.
Read more »
Gunmen kill 11 at Russian army base in latest blow to Moscow's Ukraine campaignNews agency cited the ministry as saying 15 others were wounded in the shooting on Saturday, in Russia's southwestern Belgorod region that borders Ukraine
Read more »
'Call off Zweli's death': 'The River' viewers react to Hlomla exiting'Call off Zweli's death': 'The River' viewers react to Hlomla exiting Viewers of 'The River' feel that Lindiwe Dikana will not survive the heartbreak that will follow after her husband Zweli dies on the show.
Read more »