African Solidarity Fund

Naspers Limited: Disposal of Avito Group

Retrieved on: 
Friday, October 14, 2022
Professional Services, Other Professional Services, Technology, Other Technology, Finance, Fintech, Internet, RUB, E-commerce, Capital Purchase Program, African Solidarity Fund, LLC, Agreement, Human, Statement, AEX, A2X Markets, ADR, KEH, Technology, PPE, NPN, Radio, Nelson Mandela, Acquisition, American depositary receipt, OLX, JSE Limited, Forward-looking statement, Internet, JSE, Good, COVID-19, Euronext Amsterdam, Meal, Solution, Sellers, Security (finance), Pharmaceutical industry, Avito.ru, Prosus, Group, Naspers

Pursuant to the Agreement, the Purchasers will acquire the Avito Group from the Sellers for an aggregate consideration of RUB 151 billion (the Avito Group Disposal).

Key Points: 
  • Pursuant to the Agreement, the Purchasers will acquire the Avito Group from the Sellers for an aggregate consideration of RUB 151 billion (the Avito Group Disposal).
  • The Avito Group Disposal will involve the disposal and transfer by the Group of the following entities comprising the Avito Group: (i) KEH eCommerce LLC (a Russian incorporated entity) and its subsidiaries; and (ii) Avito Holding LLC (a Russian incorporated entity) and its subsidiaries.
  • As at 31 March 2022, being the latest financial year end for Naspers and Prosus, the net asset value of the Avito Group was US$1,379.9m and profits attributable to the Avito Group was US$160.3m.
  • The Avito Group Disposal constitutes a category 2 transaction for Naspers in terms of the JSE Listings Requirements.

Termination of Agreement to Acquire BillDesk

Retrieved on: 
Monday, October 3, 2022
Finance, Business, Payments, Professional Services, Technology, Solution, African Solidarity Fund, Internet, Competition Commission, JSE Limited, AEX, Human, Technology, Nelson Mandela, BillDesk, A2X Markets, Competition Commission of India, PPE, Meal, COVID-19, PayU, NPN, American depositary receipt, JSE, Auto Trader, Forward-looking statement, CCI, Euronext Amsterdam, ADR, Good, Renewable energy, Security (finance), Pharmaceutical industry, Naspers, Prosus

Naspers Limited ("Naspers") (JSE: NPN): On 31 August 2021, Naspers announced that an agreement had been reached between PayU Payments Private Limited (PayU), a subsidiary of Prosus N.V. (Prosus), and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for US$4.7 billion.

Key Points: 
  • Naspers Limited ("Naspers") (JSE: NPN): On 31 August 2021, Naspers announced that an agreement had been reached between PayU Payments Private Limited (PayU), a subsidiary of Prosus N.V. (Prosus), and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for US$4.7 billion.
  • Closing of the transaction was subject to the fulfilment of various conditions precedent, including approval by the Competition Commission of India (CCI).
  • Naspers, through its subsidiary Prosus, has been a long-term investor and operator in India - investing close to US$6 billion in Indian technology companies since 2005.
  • Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world.

Naspers Limited: Results of Annual General Meeting and Prosus Dividend Payment

Retrieved on: 
Thursday, August 25, 2022
Professional Services, IOT (Internet of Things), Technology, Data Analytics, Other Technology, Internet, Science and technology in Asia, South African Reserve Bank, COVID-19, Food, Technology, CEO, Safety, IFood, African Solidarity Fund, PayU, Good, Agtech, Auto Trader, Solution, BillDesk, Meal, OLX, Heart, Remuneration, Sale, Disclosure, Association of British HealthTech Industries, Indian Red Cross Society, Intelligence, Forward-looking statement, Investment, Human, Nelson Mandela, Euronext Amsterdam, STI, American depositary receipt, Population, Internet, ADR, Uncertainty, Climate, Face, International Red Cross and Red Crescent Movement, Ecosystem, PPE, JSE Limited, Growth, Review, Life, Acquisition, Employment, Organic, Holding company, Bookkeeping, Bank, Management, Marketing, Renewable energy, Risk management, Security (finance), Pharmaceutical industry, Naspers, Prosus, Tencent

To increase net asset value per share, this year we initiated an open ended repurchase programme of Naspers and Prosus shares.

Key Points: 
  • To increase net asset value per share, this year we initiated an open ended repurchase programme of Naspers and Prosus shares.
  • Due to the repurchase of Naspers N ordinary shares, the exact dividend per share can only be determined closer to the dividend payment date and will accordingly be announced on the dividend finalisation date on Tuesday, 27 September 2022.
  • Prosus has its primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
  • Naspers contributed R1.5 billion of emergency aid to support the South African governments response to the COVID-19 pandemic.

Prosus, Which Is Majority Owned by Naspers, to Acquire Remaining Stake in iFood from Just Eat

Retrieved on: 
Friday, August 19, 2022
Food, Beverage, Internet, Online Retail, Retail, Technology, PRX, A2X Markets, Euronext Amsterdam, Industry, CEO, Forward-looking statement, Good, AEX, Technology, Growth, Science and technology in Asia, Food chain, African Solidarity Fund, American depositary receipt, Restaurant, Income, Human, COVID-19, Food, JSE, Nelson Mandela, JSE Limited, Auto Trader, PayU, Delivery Hero, PPE, Ownership, Solution, Internet, Meal, ADR, NPN, Security (finance), Renewable energy, Food delivery, Pharmaceutical industry, IFood, Naspers, Prosus, Movile

Following the transaction, Prosus and its affiliate company, Movile (a Brazilian investor in technology companies) will fully own iFood.

Key Points: 
  • Following the transaction, Prosus and its affiliate company, Movile (a Brazilian investor in technology companies) will fully own iFood.
  • iFood has performed exceptionally well since Prosus first invested in the business through Movile, founded by Fabricio Bloisi, in 2013.
  • We first invested in iFood nearly a decade ago and during this time Fabricio and team have built a world-class food delivery business.
  • Increasing our stake to full ownership is a demonstration of our committed and disciplined approach to investment and reflects our confidence in the long-term potential of iFood.

Naspers: Disposal of JD.com Shares Received From Tencent Holdings Limited

Retrieved on: 
Monday, June 27, 2022
Mobile, Wireless, Technology, Finance, Electronic Commerce, Professional Services, Internet, Supply Chain Management, Retail, Online Retail, Other Professional Services, Good, Auto Trader, JSE, PayU, International, JD.com, Nasdaq, JSE Limited, Internet, MIH, COVID-19, American depositary receipt, PPE, LSE, Meal, ADR, ISIN, Disposal, PRX, Hong Kong Exchanges and Clearing, District, Human, Technology, Nelson Mandela, Stock exchange, NPN, JD, Euronext Amsterdam, Solution, Time, African Solidarity Fund, International Financial Reporting Standards, Security (finance), Pharmaceutical industry, Naspers, Tencent, Prosus

Prosus N.V. (which is majority owned by Naspers) (Prosus) (Euronext Amsterdam: PRX; JSE: PRX), through its subsidiary MIH TC Holdings Limited, received 131 873 028 JD.com shares under the JD.com in specie distribution, representing a c.4% effective interest in JD.com.

Key Points: 
  • Prosus N.V. (which is majority owned by Naspers) (Prosus) (Euronext Amsterdam: PRX; JSE: PRX), through its subsidiary MIH TC Holdings Limited, received 131 873 028 JD.com shares under the JD.com in specie distribution, representing a c.4% effective interest in JD.com.
  • As JD.com does not form part of the groups core strategic focus and the JD.com shares were received by the Prosus group as a result of the JD.com in specie distribution, the Prosus group implemented an orderly disposal of the JD.com shares on the open market.
  • The JD.com shares were sold through an on-market orderly sales process comprising of a number of separate sales over time (the Disposal).
  • The aggregate Disposal of the JD.com shares constitutes a category 2 transaction for Naspers in terms of the JSE Listings Requirements.