Prosus to buy shares in parent Naspers as valuations lag Tencent stake
AMSTERDAM, May 12 (Reuters) - Amsterdam-based technology investor Prosus (JO: PRXJn ) NV PRX.AS on Wednesday announced plans to acquire up to 45.4% of its parent Naspers NPNJn.J of South Africa by issuing new shares.
Naspers, which has a controlling stake in Prosus and would remain majority owner, hopes the deal will improve valuation for both companies.
Both trade at a discount to the value of the massive 28.9% stake Prosus holds in Chinese software and gaming giant Tencent Holdings 0700.HK .
Prosus shareholders would benefit, CEO Bob van Dijk said in a statement, as Naspers shares trade at a deeper discount to the value of the Tencent stake than Prosus shares do.
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