OLX Group, owned by Prosus, will acquire French online auto marketplace La Centrale for €1.1 billion (US$1.3 billion) in an all-cash deal from Providence Equity Partners.

The Amsterdam-based OLX operates classifieds mainly in central and eastern Europe, and the deal, expected to close by year-end, marks its entry into Western Europe.

It is also Prosus’ third-largest deal under CEO Fabricio Bloisi.

Prosus, a global internet group based in the Netherlands and South Africa, is nearing completion of a €4.1 billion (US$4.4 billion) deal for JustEat Takeaway.com.

The company, which holds a significant stake in Tencent, has been boosting investments in online marketplaces, food delivery, and fintech, and recently posted a profit from its non-Tencent businesses for the first time.

🔗 Source: Bloomberg

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