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Prosus ( (NL:PRX) ) has provided an update.
Prosus’s OLX Group has announced its acquisition of La Centrale, a leading French motors classifieds platform, for EUR1.1 billion. This strategic move is set to enhance OLX’s presence in the European market, particularly in the autos sector, by leveraging La Centrale’s established brand and expertise. The acquisition aligns with Prosus’s ambition to build a dominant European ecommerce ecosystem, utilizing advanced AI technologies to drive growth and innovation. The deal is expected to close by the end of the year, subject to customary consultations, and is anticipated to provide significant opportunities for expansion and value creation for stakeholders.
More about Prosus
Prosus is a global powerhouse in lifestyle ecommerce, operating across Europe, India, and Latin America. The company focuses on integrating AI into its services, which span food delivery, payments, classifieds, travel, events, and mobility. Through its ventures, Prosus invests in cutting-edge AI and ecommerce technologies, supporting entrepreneurs who leverage technology to enhance everyday life.
For a thorough assessment of PRX stock, go to TipRanks’ Stock Analysis page.