Naspers Sets February Date for Video Business Separation
January 21 2019 - 11:48AM
Dow Jones News
By Carlo Martuscelli
Naspers Ltd. (NPN.JO) said Monday that it will spin off video
entertainment business MultiChoice Group Ltd. on Feb. 27--the first
trading day for shares in the newly created company.
South Africa-based media group Naspers said it will announce on
Feb. 28 the value of the cash proceeds generated by its separation
from MultiChoice Group.
There is no longer a strategic rationale to keep the two
businesses together as they no longer generate synergies, Naspers
said.
The company announced its intention to separately list
MultiChoice Group in September.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
January 21, 2019 11:33 ET (16:33 GMT)
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