Prosus To Acquire Online Travel Agency In Latin America For 1.7 Billion

Prosus N.V., the global Internet group led by South African billionaire Jacobus Petrus Bekker Koos Bekker, has entered into a definitive agreement to acquire Despegar, Latin Americas largest online travel agency, in a transaction valued at 1.7 billion.

The deal advances Prosus Latin America expansion, aligning with its 2024 share buyback and growth strategy. Priced at 19.5 per share, it reflects a 33 percent premium to Despegars Dec. 20, 2024, closing price and 34 percent to its 90-day volume-weighted average price VWAP.

The acquisition, recently announced is subject to regulatory conditions including shareholder approval with closing conditions and expectations set for the second quarter of 2025, with Prosus funding the purchase from existing cash reserves. Morgan Stanley Co.

Prosus CEO Fabricio Bloisi highlighted Despegars profitability, market leadership, and strong management, expressing confidence the acquisition will drive growth through integration into Prosuss e-commerce, fintech, and food platforms.

This acquisition underscores our strategy to build value through complementary businesses. Despegars strong position and profitability make it a natural fit for our portfolio, and we are eager to leverage our operational expertise and AI capabilities to enhance its growth trajectory, Bloisi said.