Naspers negotiates $750 million private placement of stock

By Sheri Kasprzak

New York, Feb. 27 - Naspers Ltd. said Tuesday it plans to conduct a $750 million private placement as part of its acquisitions of a Russian internet portal, a Brazilian magazine publisher and a Chinese sports publisher.

The terms of the offering have not yet been set, but the offering will have an over-allotment option for up to 15% of the shares offered in the deal.

Naspers plans to use the proceeds to acquire Russian internet portal Mail.ru, Brazilian magazine publisher Abril and Chinese sports publisher Titan.

Based in Cape Town, South Africa, Naspers is a media company.

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