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Naspers Limited (NPSN)

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Wednesday 09 May, 2018

Naspers Limited

Disposal

RNS Number : 5254N
Naspers Limited
09 May 2018
 

 

Naspers Limited

(Incorporated in the Republic of South Africa)

Registration Number: 1925/001431/06)

ISIN: ZAE000015889

JSE Share Code: NPN         ISIN: ZAE000015889

LSE ADS code: NPSN          ISIN: US6315122092

("Naspers" or "Company")

 

 

DISPOSAL OF ENTIRE STAKE IN FLIPKART

 

Naspers announces the disposal of its entire 11.18% stake in Indian ecommerce company Flipkart Online Services Pvt. Ltd. ("Flipkart"), to US-based retailer Walmart (NYSE: WMT) for US$2.2bn, representing an IRR of approximately 32%. 

 

Launched in October 2007, Flipkart is India's largest ecommerce marketplace. Naspers initially invested in August 2012 and its cumulative investment to the point of sale amounts to US$616m.

 

The proceeds will be used to reinforce Naspers' balance sheet and will be invested over time to accelerate the growth of Naspers' classifieds, online food delivery and fintech businesses globally, and to pursue other exciting growth opportunities when they arise.

 

The transaction is subject to regulatory approval and is expected to close later in the year.

 

CAPE TOWN

9 May 2018

Sponsor: Investec Bank Limited

 

Company contact:

Meloy Horn

Head of Investor Relations

Naspers

+27 11 289 3320

+27 82 772 7123

[email protected]

 

 

About Naspers

Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world's leading platforms in internet, video entertainment, and media.

 

Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, eMAG, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, Swiggy, Twiggle, and Udemy. Similarly, hundreds of millions of people have made the platforms of its associates Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE:MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT), and Delivery Hero (www.deliveryhero.com; Xetra:DHER) a part of their daily lives.

 

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 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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