4th Oct 2007 09:00
Naspers Limited04 October 2007 Naspers Limited(Incorporated in the Republic of South Africa)(Reg. No 1925/001431/06)("Naspers") ACQUISITION OF A CONTROLLING STAKE IN POLAND'S LEADING INSTANT MESSENGERCOMPANY, GADU GADU S.A. Announcement of Tender Offer for up to 100% of Warsaw-listed Gadu Gadu, withMajority Owner Irrevocably Committing to Tender 55% Stake Through this investment, Naspers will take control of the leading independentInstant Messenger in Central Europe, with over six million unique users.Naspers expects to build on this significant network by bringing itsinternational know-how to bear. South Africa, 4 October 2007 - Naspers Limited (JSE: NPN, LSE: NPSN), todayannounced, that it will make a public tender offer to acquire up to 100% ofleading Warsaw-listed Polish internet company Gadu Gadu S.A. and that thecurrent majority shareholder has irrevocably committed to tender its 55%shareholding in the public tender offer. Since inception in 2000, Gadu Gadu has evolved into Poland's leading InstantMessenger (IM). The company has over six million unique users with a 43% shareof the Polish IM market. The company also operates one of the leading socialcommunity portals in the country, mojageneracja.pl, with approximately 1,6million unique users. Poland is the EU's fifth most populous country with 38 million inhabitants,exhibiting fast growth in the penetration of broadband connectivity, usage ofthe internet and online internet advertising. Through this investment, Naspersenters the Polish market and by contributing its international know-how andtrack record in other large markets such as China (Tencent) and Russia(Mail.ru), Naspers expects to build the existing business and the user communityby adding functionality, enriching user experience, maximising engagement withusers and leveraging the platform with advertisers for optimised monetisation. In terms of the public tender Naspers will extend an offer to acquire 100% ofthe shares of Gadu Gadu S.A. at a tender price of PLN 23,50 per share with thecurrent majority shareholder having made an irrevocable commitment to tender its55% shareholding. Assuming 100% acceptance in the tender offer, the totalinvestment consideration will be approximately US$155 million. 4 October 2007 ________________________________________________________________________ Contact details: Antonie Roux CEO - MIH Internet Division: Global +27 21 406-2624 +27 82 444 7551 [email protected] Mark Sorour Group Chief Investment Officer Naspers +27 21 406 3008 +27 83 2 500 000 [email protected] or Steve Pacak Group Chief Financial Officer Naspers +27 21 406 3585 +27 83 2 500 006 [email protected] Important Information: This announcement contains forward-looking statements. While theseforward-looking statements represent our judgements and future expectations, anumber of risks, uncertainties and other important factors could cause actualdevelopments and results to differ materially from our expectations. Theseinclude key factors that could adversely affect our businesses and financialperformance. The Company will not undertake any obligation to (and expresslydisclaim any such obligation to) update or alter our forward-looking statementswhether as a result of new information, future events or otherwise except asrequired by law or any appropriate regulatory authority. Investors are cautionednot to place undue reliance on any forward-looking statements contained herein. About Naspers: Naspers is a multinational media company with principal operations in electronicmedia (including pay-television, internet and instant-messaging subscriberplatforms and the provision of related technologies) and print media (includingthe publishing, distribution and printing of magazines, newspapers and books,and the provision of private education services). Naspers's most significantoperations are located in South Africa, where it generates most of its revenues,with other operations located elsewhere in Sub-Saharan Africa, Greece, China,Brazil, Russia, the Netherlands, the United States and Thailand. Naspers createsmedia content, builds brand names around it, and manages the platformsdistributing the content. Naspers delivers its content in a variety of forms andthrough a variety of channels, including television platforms, internetservices, newspapers, magazines and books. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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