DST to assume full control of Mail.ru upon share swap with Naspers
JOHANNESBURG & MOSCOW–(Business Wire)–
Naspers Limited (”Naspers”), the broad based international media group, and
Digital Sky Technologies Limited (”DST”), one of the largest internet companies
in the Russian-speaking markets, announces today that Naspers`s subsidiary
Myriad International Holdings B.V. (”MIH”) will take a 28,7% stake in DST. The
transaction will be effected by Naspers contributing its 39,3% stake in Mail.ru
into DST and investing US$388m in cash. Concurrently, Mail.ru management and
other minorities will also convert their shares into DST.
Upon the close of this transaction, DST will own over 99,9% of Mail.ru. Mail.ru
is the leading communication and entertainment platform in the Russian-speaking
internet world, with over 50m registered email accounts, leading market share in
MMO games and one of the leading social networks in Russia.
Naspers and DST have worked closely together over the past three years as
co-owners of Mail.ru and today`s transaction will enable them to further
strengthen that relationship.
Chief Executive Officer of DST, Yuri Milner, said, “Naspers`s strategic insight
has already proven to be valuable in our partnership and we welcome the
expertise they will bring to DST. We are delighted to announce this transaction
and look forward to creating further value through our relationship.”
Antonie Roux, head of Naspers`s internet operations, commented: “We have known
DST and its management for years and we share a similar view and approach. We
are excited to strengthen our partnership. This opportunity further expands our
exposure to emerging markets and the fast-growing internet sector.”
About Digital Sky Technologies
DST was founded in 2005 and is one of the largest internet companies in the
Russian-speaking and Eastern European markets and one of the leading investment
groups globally to exclusively focus on internet related companies. DST,
together with its affiliate DST Global, also holds stakes in internet world
leaders such as Facebook, Zynga and Groupon. DST is a privately held company
backed by leading international financial institutions and companies. For more
information please visit http://www.dst-global.com.
About Naspers
Naspers is a leading emerging market media group operating in 129 countries. It
is listed on the Johannesburg Securities Exchange (JSE), with an ADR (American
Deposit Receipt) listing on the London Stock Exchange. The group`s principal
operations are in internet platforms (focusing on commerce, communities,
content, communication and games), pay-television and the provision of related
technologies and print media (including publishing, distribution and printing of
magazines, newspapers and books). The group`s most significant operations in
emerging markets include South Africa and sub-Saharan Africa, China, Central and
Eastern Europe, India, Brazil, Russia and Thailand. For more information visit
http://www.naspers.com.
For DST enquiries, please contact Financial Dynamics:
International
James Melville-Ross / Matt Dixon, +44 20 7831 3113
or
Russia
Leonid Solovyev, +7 495 795 06 23
or
For Naspers enquiries, please contact:
Investor Relations
Meloy Horn, +27 11 289 3320 / +27 82 7727 123
or
CEO of Internet
Antonie Roux, +27 21 406 2624 / +27 82 4447 551
Copyright Business Wire 2010
