CAPE TOWN, South Africa & BERLIN--(BUSINESS WIRE)-- Naspers Limited (JSE: NPN.SJ and LSE: NPSN), a global internet and entertainment group and one of the largest technology investors in the world, today announced a transaction to obtain 22,359,857 shares of Delivery Hero stock from Rocket Internet for €660m (US$775m) at a price of €29.50 per share. The purchase increases Naspers’ stake to 23.6% and positions the company as the largest shareholder in Delivery Hero.
Naspers initially invested in Delivery Hero in May of this year. Since then, the company executed a successful IPO in June and delivered strong half-year results as a public company on September 26, 2017.
“Delivery Hero is already the leading online food ordering and delivery marketplace in most of the countries in which it operates and our increased investment demonstrates our confidence in the long-term prospects for the company. The food delivery sector is still underpenetrated and growing rapidly across the world. Many markets have experienced significant traction already, but we believe the potential is far greater in high-growth markets than that observed in the West,” Naspers CEO, Bob van Dijk said.
“We are delighted that Naspers is increasing its stake in Delivery Hero. We share the same long-term belief in our business and we will continue to benefit from their experience to grow our business globally,” said Niklas Östberg, CEO, Delivery Hero.
Growing its position in online food ordering and delivery is consistent with Naspers’ strategy to invest in platforms with global potential that offer online marketplace services in high-growth markets. Delivery Hero has outstanding growth prospects and has high levels of consumer engagement in the markets where it operates. In addition to the investment in Delivery Hero, Naspers recently led an $80M Series E investment in Swiggy, a leading food ordering and delivery platform in India. Through majority-owned Movile, Naspers has a leading food delivery business in iFood, operating in Brazil and Mexico (under the brand SinDelantal), and Naspers also operates Mr. D Food, a food delivery business in South Africa.
The transaction is subject to regulatory approval, will be funded from existing resources, and is expected to close in the first quarter of 2018.
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, Flipkart, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, SinDelantal, 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.
About Delivery Hero
Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users and orders in more countries than any of its competitors and online and mobile platforms across 40+ countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in 60+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 6,000 employees in addition to thousands of employed delivery drivers.
For more information, please visit www.deliveryhero.com.
WKN: A2E4K4; ISIN: DE000A2E4K43.
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Source: Naspers Limited