Interesting : the main owner of avito redeemed nearly a third of shares of service for $1,16 billion

Published: 11.9.2017
the main owner of avito redeemed nearly a third of shares of service for 1,16 billion $

Main owner Avito, South African fund NC Europe Holdings B.V. (Naspers Russia Classifieds), redeemed nearly a third of shares of service for $1,16 billion, Vedomosti with reference to the website of fund reports.

for the first time invested

of Naspers in Avito in 2013, and in 2015 brought the share to 67,9%. In nine months 2018 the revenue of service was 10,3 billion rubles ($162 million) - 30% higher, than the previous year. The corrected EBITDA of the company appeared at the level of $103 million. The edition notes that shareholders estimated Avito almost at 20 annual EBITDA.

As a result of the transaction of Naspers brought the share in the company to 99,6%. Another 0,4% of stocks remained with managers of the company, specified in fund, without having specified at whom exactly. Vedomosti notes what to the transaction of 4,2% of the company belonged to Geliria Holdings (Baring Vostok subsidiary), 10% - to founders, and 4,6% - to management.

Earlier Naspers possessed a share in 70,4% in Avito. The company told that acquired 29,1% of shares for $1,16 billion. All business of Avito was estimated at the same time at $3,85 billion

According to the CEO of Naspers Bob van Dijk, investments into Avito will allow to strengthen positions in the world market of classifieds and in the Russian Internet market. At the same time in the company specified that believe in long-term prospects in the Russian market.

Earlier one of shareholders of Avito, the Swedish fund Vostok New Ventures, told about the preparing transaction on sale of the equity stake to Naspers holding for $540 million

At the same time the managing partner of Gagarin Capital Nikolay Davydov specified that Avito within the transaction underestimated as classifieds of such scales are on sale in the world on the animator 50 EBITDA.


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