| Thu 4 Oct 2007, 10:00 | | NPN - Naspers Limited - Acquisition of a controlli |
|
NPN
NPN
NPN - Naspers Limited - Acquisition of a controlling stake in Poland`s leading
instant messenger company, GADU GADU S.A.
Naspers Limited
(Incorporated in the Republic of South Africa)
(Reg. No 1925/001431/06)
Share Code: NPN ISIN: ZAE000015889
("Naspers")
ACQUISITION OF A CONTROLLING STAKE IN POLAND`S LEADING INSTANT MESSENGER
COMPANY, GADU GADU S.A.
Announcement of Tender Offer for up to 100% of Warsaw-listed Gadu Gadu, with
Majority Owner Irrevocably Committing to Tender 55% Stake
Through this investment, Naspers will take control of the leading independent
Instant Messenger in Central Europe, with over six million unique users.
Naspers expects to build on this significant network by bringing its
international know-how to bear.
South Africa, 4 October 2007 - Naspers Limited (JSE: NPN, LSE: NPSN), today
announced, that it will make a public tender offer to acquire up to 100% of
leading Warsaw-listed Polish internet company Gadu Gadu S.A. and that the
current majority shareholder has irrevocably committed to tender its 55%
shareholding in the public tender offer.
Since inception in 2000, Gadu Gadu has evolved into Poland`s leading Instant
Messenger (IM). The company has over six million unique users with a 43% share
of the Polish IM market. The company also operates one of the leading social
community portals in the country, mojageneracja.pl, with approximately 1,6
million unique users.
Poland is the EU`s fifth most populous country with 38 million inhabitants,
exhibiting fast growth in the penetration of broadband connectivity, usage of
the internet and online internet advertising. Through this investment, Naspers
enters the Polish market and by contributing its international know-how and
track record in other large markets such as China (Tencent) and Russia
(Mail.ru), Naspers expects to build the existing business and the user community
by adding functionality, enriching user experience, maximising engagement with
users and leveraging the platform with advertisers for optimised monetisation.
In terms of the public tender Naspers will extend an offer to acquire 100% of
the shares of Gadu Gadu S.A. at a tender price of PLN 23,50 per share with the
current majority shareholder having made an irrevocable commitment to tender its
55% shareholding. Assuming 100% acceptance in the tender offer, the total
investment consideration will be approximately US$155 million.
4 October 2007
Cape Town
Sponsor: Investec Bank Limited
Contact details:
Antonie Roux
CEO - MIH Internet Division: Global
+27 21 406-2624
+27 82 444 7551
aroux@mihinternet.com
Mark Sorour
Group Chief Investment Officer
Naspers
+27 21 406 3008
+27 83 2 500 000
msorour@naspers.com
or
Steve Pacak
Group Chief Financial Officer
Naspers
+27 21 406 3585
+27 83 2 500 006
spacak@naspers.com
Important Information:
This announcement contains forward-looking statements. While these forward-
looking statements represent our judgements and future expectations, a number of
risks, uncertainties and other important factors could cause actual developments
and results to differ materially from our expectations. These include key
factors that could adversely affect our businesses and financial performance.
The Company will not undertake any obligation to (and expressly disclaim any
such obligation to) update or alter our forward-looking statements whether as a
result of new information, future events or otherwise except as required by law
or any appropriate regulatory authority. Investors are cautioned not to place
undue reliance on any forward-looking statements contained herein.
About Naspers:
Naspers is a multinational media company with principal operations in electronic
media (including pay-television, internet and instant-messaging subscriber
platforms and the provision of related technologies) and print media (including
the publishing, distribution and printing of magazines, newspapers and books,
and the provision of private education services). Naspers`s most significant
operations are located in South Africa, where it generates most of its revenues,
with other operations located elsewhere in Sub-Saharan Africa, Greece, China,
Brazil, Russia, the Netherlands, the United States and Thailand. Naspers creates
media content, builds brand names around it, and manages the platforms
distributing the content. Naspers delivers its content in a variety of forms and
through a variety of channels, including television platforms, internet
services, newspapers, magazines and books.
Date: 04/10/2007 10:00:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
