Vostok New Ventures may sell stake in Avito to Naspers for $540 mln

MOSCOW, Jan 25 (PRIME) -- Swedish fund Vostok New Ventures has agreed to sell its stake in Russian online classifieds platform Avito to South African media group Naspers for U.S. $540 million, valuing the firm at $4 billion, the fund said on Friday in a statement.

Some formalities are only left, and the deal will be announced in the next few hours, the fund said.

At present, Naspers owns 68% in Avito.

Media reported earlier that Naspers intends to consolidate the classifieds platform, whose monthly audience counts 32 million people, according to researcher Mediascope.

End