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NASPERS LIMITED - MakeMyTrip Limited and Ibibo Group to combine

Release Date: 18/10/2016 15:45
Code(s): NPN     PDF:  
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MakeMyTrip Limited and Ibibo Group to combine

NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
Share code: NPN & ISIN: ZAE000015889
LSE ADS code: NPSN & ISIN: US6315121003
(“Naspers” or the “Group” or the “Company”)




MAKEMYTRIP LIMITED AND IBIBO GROUP TO COMBINE


Investors are advised that terms have been agreed for Naspers Limited’s Indian travel business, Ibibo
Group (ibibo), to enter into a transaction with Nasdaq-listed MakeMyTrip Limited (NASDAQ:MMYT),
which will combine the two businesses under MMYT to create one of the largest travel groups in
India.

Naspers and Tencent (700: Hong Kong), through their jointly-owned holding company (91% owned by
Naspers and 9% owned by Tencent), are selling 100% of ibibo to MMYT in exchange for the issuance
of new shares by MMYT. Naspers and Tencent will become the single largest shareholder in
MakeMyTrip, owning a 40% stake, and will contribute proportionate working capital upon closing.

The combination of ibibo and MMYT will bring together a bouquet of leading consumer travel brands,
including MakeMyTrip, goibibo, redBus, Ryde and Rightstay. The Transaction is expected to unlock
value for customers, supply partners and shareholders, by combining the complementary strengths
of each travel group. MMYT brings its strong brand, robust mix of domestic and outbound hotels and
packages business, and the strong position of its air ticketing business. ibibo, via its goibibo and redBus
brands, comes with strong presence in the fast-growing hotel market, bus ticket-booking segment and
a fast-growing air ticketing business.

The Transaction is expected to close by the end of December 2016, and is subject to approval by MMYT
shareholders, and regulatory approvals.


CAPE TOWN
18 October 2016

Sponsor: Investec Bank Limited



For more information, please contact:
Meloy Horn
Head of Investor Relations
meloy.horn@naspers.com
+27 11 289 3320
About Naspers:


Founded in 1915, Naspers is a global internet and entertainment group and one of the largest
technology investors in the world. Operating in more than 130 countries and markets with long-term
growth potential, Naspers builds leading companies that empower people and enrich communities. It
runs some of the world’s leading platforms in internet, video entertainment, and media.

Naspers companies connect people to each other and the wider world, help people improve their daily
lives, and entertain audiences with the best of local and global content. Every day, millions of people
use the products and services of companies in which Naspers has invested, acquired or built, including
OLX, Avito, letgo, Allegro, eMAG, Flipkart, PayU, MultiChoice, ShowMax, Movile, SimilarWeb and
Media24. Similarly, hundreds of millions of people have made Tencent’s (www.tencent.com; SEHK
00700) and Mail.ru’s (www.corp.mail.ru; LSE: MAIL) platforms a part of their daily lives.

Naspers is listed on the JSE Ltd’s stock exchange in Johannesburg (NPN.SJ) and has an ADR listing on
the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com

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