Naspers raises stake in Russian classifieds website Avito to 99.6%

Monday 28 January 2019 | 11:25 CET | News
Naspers' Classifieds business, OLX Group, announced an investment of USD 1.16 billion, at an implied enterprise value of USD 3.85 billion, to acquire another 29.1 percent stake in Avito, an online general classified advertising and property platform in Russia. OLX Group's stake increases from 70.4 percent to 99.6 percent on a fully diluted basis. The remaining shares are held by existing management.

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Categories: Internet
Companies: Naspers / OLX
Countries: Russian Federation
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