Prosus to Buy Online Travel Agency Despegar for $1.7 Billion
Prosus CEO plans to double company’s value in four years
Group is redoubling efforts to deploy capital productively
Internet investing giant Prosus NV is acquiring Latin American online travel agency Despegar.com Corp. for $1.7 billion.
Despegar stock soared 31% on the news.
Prosus is offerings $19.50 a share, 33% more than the closing price on Dec. 20, it said in a statement Monday.
The Prosus team is scouring the globe for companies to replicate its investment success with Chinese internet firm Tencent Holdings Ltd. Prosus Chief Executive Officer Fabricio Bloisi has committed to doubling the company’s value in the next four years.
The group has redoubled its efforts to deploy the company’s capital in a “very productive way,” focusing on sectors including online food, classifieds, payments and fintech, Prosus Chief Investment Officer and President Ervin Tu told Bloomberg last month.
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