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The deal will enable Tokio to gain a foothold in markets such as South Africa and Botswana from its base in Chiyoda-Ku, Japan.
The company takes “very seriously” the difference in value between its stake in Chinese internet giant Tencent and the firm as a whole, CEO Bob Van Dijk said.
Naspers bought into Flipkart in 2012 and has invested a cumulative $616 million. The sale value of its stake was $2.2 billion.
Naspers Ltd., frustrated that investors give it no credit for its investments other than a stake in Chinese Internet behemoth Tencent Holdings Ltd., is considering listing some businesses on the stock market to highlight their value.
Naspers is selling $10.6 billion of shares in Tencent, equal to 2% of the stock in the Chinese operator of the WeChat messaging service.
Naspers invested an initial $80 million in Swiggy, the largest food delivery business in India, in May last year.
The deal, which has been concluded, is worth as much as 3.5 billion rand ($256 million).
Its 33% shareholding in Tencent is worth about $166 billion, while Naspers itself is valued at $123 billion.
As pay isn’t aligned to the performance of the business outside a stake in Tencent.
Remgro Ltd. of South Africa is in talks to sell broadband provider Dark Fibre Africa to a company owned by Nippon Telegraph and Telephone Corp. of Japan, according to three people familiar with the matter. Remgro, which owns 51.9 percent of the business, and investment partner New GX Capital are seeking as… Read more »