Prosus N.V., the global consumer internet group chaired by South African billionaire Koos Bekker, is making a bold push into Western Europe with a 1.3 billion acquisition of La Centrale, a leading French auto advertising marketplace.
The all-cash deal, valued at 1.1 billion 1.3 billion, gives Prosuss classifieds arm OLX its first major foothold in France, Europes second-largest car market. It also expands the groups reach beyond Central and Eastern Europe, where OLX already serves more than 29 million monthly users.
This acquisition is a natural fit within our classifieds portfolio, said Christian Gisy, OLXs chief executive. La Centrales strong market position and experienced team are the perfect foundation to build customer-first solutions in France.xA0