Media and e-commerce group Naspers on Monday reported a 4.5% drop in profit for the year to 31 March, mainly as a result of investments to drive growth in its food delivery business.
Browsing: Basil Sgourdos
Naspers unlocked about R150-billion of value for shareholders through the separate listing of its Internet businesses, and with that done is now focusing on bulking up in online food deliveries.
Prosus may be a bit late with its offer to buy Just Eat: Takeaway.com and Just Eat announced their proposed transaction at the beginning of August and have already published a schedule of events to finalise it.
The astonishing things is that shareholders were asked to approve the new scheme – and did – without knowing what the performance condition was.
Naspers has received enough votes from shareholders to proceed with an Amsterdam listing of assets including a R1.9-trillion stake in Chinese Internet giant Tencent Holdings.
Bob van Dijk received almost R1.9-billion in salary, incentives, and vested share options and shares appreciation rights in the year to March 2019, a regulatory filing published on Friday shows.
Naspers will list on its consumer Internet business on Amsterdam’s Euronext exchange on 17 July, subject to market conditions, in a bid to unlock shareholder value.
TechCentral editor Duncan McLeod spoke to Naspers chief financial officer Basil Sgourdos about the group’s plans to list its international consumer Internet businesses in Amsterdam and what happens next.
Naspers has its sights set on acquisitions as it targets “significant investments” for its $10-billion cash pile in the next couple of months, chief financial officer Basil Sgourdos said.
Naspers said on Friday that it will invest R1.4-billion to help South African technology entrepreneurs grow their start-ups and will invest R4.6-billion over the next three years in the local technology sector.