May 14, 2019 / 4:11 PM / 12 days ago

Naspers sells Brazilian online comparison site Buscapé

SAO PAULO, May 14 (Reuters) - South African media and tech group Naspers Ltd has agreed to sell its Brazilian online price comparison website Buscapé to rival Zoom, it said in a statement on Tuesday.

Reuters reported in June 2018 that Naspers had hired Citigroup Inc to sell Buscapé, as part of its strategy to focus its portfolio on classifieds, food delivery and financial technology startups.

Naspers, which did not disclose the deal value, said the transaction is likely to be concluded this year.

In 2015, Naspers had already tried to sell Buscapé, but it got offers below the $342 million it paid in 2009 for a 91 percent stake in the Brazilian firm. (Reporting by Carolina Mandl Editing by Marguerita Choy)

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