Google+ Followers

Wednesday, 7 September 2016

Dubai’s Souq.com Said to Plan Stake Sale at $1.2 Billion Value - Bloomberg

Dubai’s Souq.com Said to Plan Stake Sale at $1.2 Billion Value - Bloomberg:

"Dubai-based online retailer Souq.com, known as the Amazon of the Middle East, is planning to sell a stake of about 30 percent that would give the company a value of at least $1.2 billion, people with knowledge of the matter said.
Start your day with what’s moving markets.

Souq.com appointed advisers at Goldman Sachs Group Inc. to find buyers for the stake, the people said, asking not to be identified as the information is private. Existing investors Tiger Global Management and South Africa’s Naspers Ltd. are open to selling part of their holdings in the transaction, the people said. The company may attract another business in the industry or a financial investor, and is willing to sell a larger stake at the right price, one of the people said.

Representatives for Goldman Sachs and Tiger Global declined to comment. A representative for Souq.com didn’t have an immediate comment. Naspers didn’t immediately return messages seeking comment."



'via Blog this'