South Africa’s Naspers have entered into an exchange agreement with a Dutch subsidiary in exchange for a 29% reduction in Tencent’s Chinese presence in local financial markets.
Tencent’s high price has prompted Naspers to relaunch the balloon for nearly a quarter of a Johannesburg bourse. This has forced South African women to sell their shares in order to avoid accidents.
In response, Naspers announced an exchange of shares with Prosus, a Dutch company owned by Tencent.
Prosus offered to buy 45% of its parent to replace its shares, Naspers said Wednesday. The partnership will give Prosus an impressive 49.5% interest in Naspers and raise free access to those who were the largest online group in Europe to $ 100bn, he added.
Naspers should keep Prosus from their home in South Africa.
Naspers is the largest company in Africa due to its Tencent but its shares are sold at a relatively low price, which led to the signing of Prosus in 2019.
The stock sells at a slightly lower price than Tencent’s stock price.
Prosus’ mission to acquire Naspers shares “aims to be sustainable in addressing all the challenges” by maintaining economic stability in the European context, says Naspers.
The offer “maintains Naspers as South Africa’s largest state-owned company on the JSE and manages Prosus,” said Basil Sgourdos, Naspers’ chief financial officer.