Naspers, Prosus announce shock CEO departure

Boosted by the $44.1 billion Naspers-Prosus share swap, the value of M&A transactions in the region reached $78.3 billion during the first nine months of 2021.

The company posts blowout e-commerce revenue growth of 55% for the year, outperforming the Chinese Internet giant, which posted 28% revenue growth.

We have informed Tencent of our intention, which is understood and supported by Tencent says Prosus CEO Bob van Dijk.

Naspers’s food delivery businesses nearly doubled revenue growth, while e-commerce revenue grew 69%, boosted by Tencent and Takealot Group.

In total, up to $5 billion in shares in Naspers and Prosus will be purchased on the open market on a pro-rata (72.5%/27.5%) basis.

The company believes it is well-positioned to navigate the coronavirus uncertainty ahead after its revenue grew 23% for the year ended 31 March.

Naspers expects to own at least 73% of Prosus and the free float is expected to be up to 27%.

The global Internet group creates a new executive position to lead its local business, names Phuthi Mahanyele-Dabengwa as CEO.

Naspers will own approximately 75% of NewCo and will retain its primary listing on the Johannesburg Stock Exchange.

The pay-TV operator today entered a new chapter after listing on the Johannesburg Stock Exchange.

Internet giant Naspers confirms its video entertainment business will list on JSE on 27 February.