Naspers-Owned Prosus to Acquire LatAm's Despegar for $1.7B

BREAKING NEWSDecember 23, 2024 at 1:06 PM UTC

TLDR

Internet investment giant Prosus NV is acquiring Latin American online travel agency Despegar.com for $1.7 billion in cash.
Despegar, operating in 19 Latin American markets, will join Prosus’s portfolio alongside other regional businesses like iFood and Sympla
The transaction, expected to close in Q2 2025, aligns with Prosus CEO Fabricio Bloisi’s strategy to double the company’s value in four years

Internet investment giant Prosus NV, a subsidiary of South Africa's Naspers, is acquiring Latin American online travel agency Despegar.com for $1.7 billion in cash. The deal values Despegar at $19.50 per share, a 33% premium over its December 20 closing price.

Despegar, operating in 19 Latin American markets, will join Prosus’s portfolio alongside other regional businesses like iFood and Sympla. Prosus plans to leverage synergies between these platforms to enhance operations across sectors.

The transaction, expected to close in Q2 2025, aligns with Prosus CEO Fabricio Bloisi’s strategy to double the company’s value in four years by deploying capital in high-growth sectors such as online food, classifieds, payments, and fintech.

You can follow Daba’s reporting on Africa on WhatsApp. Sign up here

Key Takeaways

Prosus’s acquisition of Despegar highlights a plan to scale operations in high-growth regions. The deal strengthens Prosus’s presence in Latin America, where it already operates major platforms like iFood, and aligns with its strategy to invest in scalable digital businesses. As the majority-owned subsidiary of South Africa’s Naspers, Prosus continues to diversify beyond its cornerstone investment in Tencent Holdings. By integrating Despegar with its existing businesses, Prosus aims to capitalize on the region’s growing digital economy and consumer spending power.

Business

Finance

Prosus NV

South Africa

Naspers

Despegar

Latin America

Acquisition

Investment