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Prosus to sell Russian classifieds business Avito to Kismet for $2.4B

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AMSTERDAM -Prosus, the Dutch-based technology investor, said on Friday it has agreed to sell its Russian online marketplace Avito for 151 billion roubles ($2.46 billion), to Kismet Capital Group.Avito had been one of Prosus's most valuable investments, with an estimated valuation of about $6 billion before R

AMSTERDAM -Prosus, the Dutch-based technology investor, said on Friday it has agreed to sell its Russian online marketplace Avito for 151 billion roubles , to Kismet Capital Group.

The buyer, Russian investment firm Kismet, was founded by Ivan Tavrin, former CEO of telecoms company MegaFon. Kismet said it had permission for the deal from Russia's Federal Antimonopoly Service and a government commission on controlling foreign investment in the country.

 

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