14 Oct 2022
Statement on sale of Avito
Prosus has entered into an agreement to sell its shareholding in Russian classifieds business, Avito, to Kismet Capital Group (Kismet), for a total cash consideration of RUB 151 billion.
Statement on sale of Avito
Prosus has entered into an agreement to sell its shareholding in Russian classifieds business, Avito, to Kismet Capital Group (Kismet), for a total cash consideration of RUB 151 billion. Kismet is a private investment group with a track record of investing in technology and telecommunications businesses in Russia. All relevant regulatory approvals have been received. Closing is expected to occur in October 2022.
Since announcing our intention to sell Avito on 20 May 2022, our aim has been to manage the sale of the business in a responsible and orderly way. We believe this transaction best accomplishes that objective.
For more information, please see the stock exchange announcement.
About Prosus
Prosus is a global consumer internet group and one of the largest technology investors in the world.
Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors.
Through the Prosus Ventures team, the group invests in new technology growth opportunities within logistics, fintech, health, blockchain, social and ecommerce platforms, agriculture and more.
The team actively backs exceptional entrepreneurs using technology to improve people's everyday lives.
Each month, over two billion customers across the globe use the products and services of companies that Prosus has invested in, acquired or built.