The online classifieds website has been acquired by Impresa Capital, the majority shareholder in the Durban-based Ignition Group.
Prosus is on the lookout for acquisitions after the Dutch e-commerce giant reported a 28% rise in first-half earnings and a net cash position of US$4.3-billion.
The big deals that Prosus should be winning are slipping through its fingers. It’s not a great start for a company set up to be a deal machine.
eBay has agreed to sell its online classifieds business to Norway’s Adevinta for $9.2-billion (R152-billion), ending one of the largest auctions of the year.
eBay would prefer to keep a stake in the classified advertising business it’s selling, according to people familiar with the matter, lessening the chances Prosus will win the hotly-contested auction.
Naspers’s Prosus, through its OLX Brazil business, has agreed to spend R9.9-billion to buy Grupo ZAP, described as one of the fastest-growing technology companies in the South American country.