Prosus (Naspers) Agrees to Sell Avito Group to Kismet Capital Subsidiaries
October 14, 2022
Prosus, majority-owned by Naspers, entered into an agreement through its affiliates to sell the Avito Group (Russia classifieds businesses) to purchasers that are subsidiaries of Kismet Capital Group LLC. The transaction values the Avito Group at an aggregate consideration of RUB 151 billion, to be funded via a mix of cash and debt financing, with closing expected in October 2022.
- Buyers
- Radio Reklama Vologda LLC, Infrastructure Holding-2 LLC
- Targets
- Avito Group, KEH eCommerce LLC, Avito Holding LLC
- Sellers
- OLX Global B.V., OLX B.V., KEH Holdings B.V., MIH Technology Holdings B.V., Prosus N.V.
- Industry
- E-Commerce
- Location
- Russia
- Transaction Type
- Divestiture
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