By Najat Kantouar
Naspers said its Amsterdam-listed subsidiary Prosus plans to buy Latin America online travel agency Despegar for $1.7 billion.
Prosus agreed to acquire Despegar for $19.50 a share, representing a 33% premium to its closing share price on Dec. 20, and a 34% premium to its 90-day volume weighted average price, it said Monday.
The transaction-- which received approval from the Latin America travel agency's board--will support Prosus's expansion in the region, serving 100 million customers across local e-commerce, travel and fintech sectors.
The deal is expected to be completed in the second quarter of 2025, after receiving regulatory approvals.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
12-23-24 0715ET