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Naspers Invests $388 Million; Contributes 39.3% of Mail.ru for 28.7% of DST

Files under: News
Posted by: Quintura @ 02:07 [14. 07. 10]

The international Intenet media group Naspers has invested $388 million and contributed a 39.3% stake in Mail.ru for a 28.7% stake in Digital Sky Technologies (DST). The management of Mail.ru and other minority shareholders will also convert their shares in Mail.ru into shares in DST. Upon deal completion, DST will own over 99,9% of Mail.ru.

The leading Russian online portal Mail.ru reported revenues of $126 million in 2009. Naspers first acquired a 30% stake in Mail.ru for $165 million from DST and Tiger Global in January 2007.

In April 2010, Chinese instant messanging platform QQ-owner Tencent invested $300 million in DST, valuing it at $3 billion.

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