28 Aug 2008 08:48
Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000015889
LSE ADS code: NPSN ISIN: US 6315121003
("Naspers" or "the company")
DISPOSAL OF NETMED N.V.: FULFILLMENT OF CONDITIONS PRECEDENT
Shareholders are referred to the announcement published on 30 June 2008, regarding the disposal of Myriad International Holdings B.V.'s (an indirect wholly owned subsidiary of Naspers) interest in the Greek and Cypriot pay-TV operations ("NetMed") to Forthnet SA ("Forthnet"), a leading Greek telecommunications company (the "transaction") at an enterprise value for NetMed of EUR490 million.
We are pleased to advise that all the outstanding conditions precedent have been fulfilled and the transaction has been concluded, with an effective date of 27 August 2008.
CAPE TOWN
28 August 2008
Sponsor
Investec Bank Limited
(Registration number 1969/004763/06)
Contact details:
Mark Sorour
Group Chief Investment Officer
Naspers
+27 21 406 3008
+27 83 2 500 000
msorour@naspers.com
Basil Sgourdos
GM Business Development Pay TV
MIH
+31 23 556 2869
+31 23 556 2880
basil@mih.com
Steve Pacak
Group Chief Financial Officer
Naspers
+27 21 406 3585
+27 83 2 500 006
spacak@naspers.com
Important Information:
This press release contains forward-looking statements as defined in the United States Private Securities Litigation Reform Act of 1995. Words such as "believe", "anticipate", "intend", "seek", "will", "plan", "could", "may", "endeavour" and similar expressions are intended to identify such forward-looking statements, but are not the exclusive means of identifying such statements. While these forward-looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These include numerous factors that could adversely affect our businesses and financial performance. We are not under any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.
About Naspers:
Naspers is a multinational media company with principal operations in electronic media (including pay-television, internet and instant-messaging subscriber platforms and the provision of related technologies) and print media (including the publishing, distribution and printing of magazines, newspapers and books).The group creates media content, builds brand names around it, and manages the platforms distributing the content. Naspers's most significant operations are located in South Africa, where it generates most of its revenues, with other operations located elsewhere in sub-Saharan Africa, China, Russia, central and eastern Europe, the Netherlands, Brazil, the United States and Thailand.
NPSN.L (NPSN)