{"id":266069,"date":"2018-08-20T09:06:26","date_gmt":"2018-08-20T07:06:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=266069"},"modified":"2018-08-20T09:06:26","modified_gmt":"2018-08-20T07:06:26","slug":"naspers-completes-2-2-billion-flipkart-sale","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/266069\/naspers-completes-2-2-billion-flipkart-sale\/","title":{"rendered":"Naspers completes $2.2 billion Flipkart sale"},"content":{"rendered":"<p>Naspers says that the sale of its 11.18% stake in Indian e-commerce company Flipkart, to US-based retailer Walmart, for $2.2 billion is closed.<\/p>\n<p>&#8220;Shareholders are advised that all regulatory conditions have been met and that the transaction closed effective 18 August 2018,&#8221; it said in a statement on Monday (20 August).<\/p>\n<p>&#8220;Proceeds will be used to reinforce Naspers\u2019 balance sheet and will be invested over time to accelerate the growth of Naspers\u2019 classifieds, online food delivery and fintech businesses globally, and to pursue other exciting growth opportunities when they arise,&#8221; it said.<\/p>\n<p>Launched in October 2007, Flipkart is India\u2019s largest e-commerce marketplace. Naspers initially invested in August 2012 and its cumulative investment to the point of sale amounts to $616 million (R7.75 billion).<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/243407\/naspers-sells-flipkart-stake-to-walmart-for-r28-billion\/\" target=\"_blank\" rel=\"noopener\">Naspers sells Flipkart stake to Walmart for R28 billion<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Naspers says that the sale of its 11.18% stake in Indian e-commerce company Flipkart, to US-based retailer Walmart, for $2.2 billion is closed.<\/p>\n","protected":false},"author":10,"featured_media":242555,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[7073,107],"class_list":["post-266069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-flipkart","tag-naspers"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=266069"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266069\/revisions"}],"predecessor-version":[{"id":266081,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/266069\/revisions\/266081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/242555"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=266069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=266069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=266069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}