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Naspers announces closing of Flipkart transaction

Naspers announces closing of Flipkart transaction Global internet and entertainment group, Naspers Limited announced its intention on 9 May 2018 to dispose of its 11.18% stake in Indian ecommerce company Flipkart, to US-based retailer Walmart for US$2.2bn.
 
All regulatory requirements and pre-conditions have been met and the transaction closed effective 18 August 2018. Bob van Dijk, Group CEO, Naspers, said: “Naspers is proud to have backed a team of talented entrepreneurs in building the leading ecommerce player in India. We wish them well as they continue their journey as an outstanding and long-lasting business.”
 
The proceeds of the sale 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.
 
For more information contact:
Shamiela Letsoalo, Media Relations Director, South Africa
Tel: +27 11 289 3750
Mobile: +27 78 802 6310
Email: [email protected]
 
Meloy Horn, Head of Investor Relations, Naspers
Tel: +27 11 289 3320 / +27 11 289 4446
Mobile: +27 82 772 7123
Email: [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, Delivery Hero, 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), and MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) 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.

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