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Naspers sells its stake in Netretail

Announcements, News, 26 October 2015
In Naspers press releases

For Naspers, the transaction forms part of an ongoing strategy to optimise its group structure. Naspers acquired Netretail (a Czech-based online retailer) and eMAG (the Romanian based internet retailer) in 2012, with a plan to merge the two assets and create a leading ecommerce platform across Central and Eastern Europe (CEE). Diverging strategic views prevented the merger from being completed. Naspers subsequently decided to focus on eMag as its preferred etail platform in the region.

As part of the transaction, Naspers is also selling Heureka, the group’s online price comparison platform in the Czech Republic. Naspers’ other businesses in the region are unaffected by this disposal.

The transaction is subject to antitrust clearance.

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