Tech firm Prosus has entered into a definitive agreement to acquire New York-kisted Despegar, a Latin American Online Travel Agency (OTA),
The tech firm will pay $19.50 per share, equating to a 33% premium to the closing share price as of 20 December 2024, and a 34% premium to Despegar’s 90-day VWAP (volume weighted average price). This will equate to $1.7 billion or R31 billion.
The proposed transaction was approved by Despegar’s board of directors, who recommended that Despegar shareholders vote in favour of the proposed transaction following the unanimous recommendation by a transaction committee.
“This acquisition is a clear demonstration of our strategy to build value by creating a high-quality ecosystem of complementary businesses,” Fabricio Bloisi, CEO of Prosus Group said.
“Despegar is a highly profitable company, with an attractive market position, and an experienced management team – making it a natural addition to our presence in Latin…
