The group bought the entire stake held by Romanian businessman Sebastian Ghita (about 40.3%) and half of the stakes owned by Iulian Stanciu (some 20%) and Radu Apostolescu (about 8%), market sources said Monday.
eMag said in a press release later Monday that Stanciu, whose stake after the deal stands at 21.6%, will serve as eMAG general manager, and Radu Apostolescu (with a 8.4% stake) will fill the position of development manager.
The value of the deal, which will take effect after it is authorized by Romania’s Competition Council, has not been revealed to the public.
According to Trade Registry data valid for May 6, the shareholders of Dante International (the company that owns eMAG.ro) were Asesoft Distribution (equally owned by Stanciu and Ghita) – 80.67%, Radu Apostolescu – 16.33% and Asesoft Web (equally controlled by Ghita and Stanciu) – 3%.
eMAG will expand to the main East European markets, and will enter the Bulgarian market this year, reads the press release.
Naspers, which operates in over 130 states, registered sales of $5.3 billion in the latest fiscal year. The company is listed on the Johannesburg Stock Exchange.
In China and Russia, Naspers owns the most visited online platforms – Tencent and Mail.ru.
Locally, Naspers owns PayU Romania, online platforms autovit.ro, mercador.ro, compari.ro and a stake in Fashion Days.