$100 Billion Netherlands Internet & Tech Investor Prosus Buys Latin America Leading Online Travel Agency Despegar for $1.7 Billion Representing +33% Premium to Closing Share Price on 20th December 2024, Despegar Founded in 1999 & IPO on New York Stock Exchange in 2017

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$100 Billion Netherlands Internet & Tech Investor Prosus Buys Latin America Leading Online Travel Agency Despegar for $1.7 Billion Representing +33% Premium to Closing Share Price on 20th December 2024, Despegar Founded in 1999 & IPO on New York Stock Exchange in 2017

26th December 2024 | Hong Kong

Netherlands internet & tech investor Prosus ($100 billion market value) has announced to buy Latin America leading online travel agency Despegar for $1.7 billion, representing +33% premium to closing share price on 20th December 2024.  Despegar was founded in 1999, and IPO on New York Stock Exchange (NYSE) in 2017.  Prosus (23/12/24): “Prosus, a global technology company, today announces that it has entered into a definitive agreement to acquire Despegar (NYSE: DESP) a leading Latin American Online Travel Agency (OTA), for $19.50 per share, equating to a 33% premium to the closing share price as of 20 December 2024, and a 34% premium to Despegar’s 90-day VWAP (volume weighted average price). The proposed transaction was approved by Despegar’s board of directors, who recommended that Despegar shareholders vote in favour of the proposed transaction following the unanimous recommendation by a transaction committee.  The transaction introduces a significant and compelling addition to Prosus’s Latin America ecosystem, which, post-transaction, will expand to serve over 100 million customers across local e-commerce, travel, and fintech sectors.”  Despegar operates in over 19 Latin American markets, serving customers through two primary business models: an omnichannel B2C platform that connects with users via the web, mobile app, and conversational channels powered by the company’s AI assistant, Sofia; and a rapidly expanding B2B segment that offers white-label solutions to partners such as banks, airlines, and retailers.  Over the past two decades, Despegar has developed and grown into a sector leader with a proven and scalable business model. The company handles over 9.5 million transactions annually, generating $5.3 billion in gross bookings, $706 million in revenue, and delivering a reported EBITDA of $116 million based on its full-year 2023 results.  Founded in Argentina in 1999, the business scaled and expanded throughout the region before listing on the New York Stock Exchange in 2017. Despegar has become the most recognised travel brand in Latin America and its Decolar brand is the most recognised brand in its largest market, Brazil.  In 2024 September, Prosus ($106 billion) exited China online travel platform Trip.com investment for $743 million in block trade sale.  Prosus is a global consumer internet group and one of the largest technology investors and operators in the world.

“ $100 Billion Netherlands Internet & Tech Investor Prosus Buys Latin America Leading Online Travel Agency Despegar for $1.7 Billion Representing +33% Premium to Closing Share Price on 20th December 2024, Despegar Founded in 1999 & IPO on New York Stock Exchange in 2017 “

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$106 Billion Netherlands Internet & Tech Investor Prosus Exits China Online Travel Platform Trip.com Investment for $743 Million in Block Trade Sale, Trip.com Market Value at $36 Billion, Trip.com Founded in 1999 & IPO on Nasdaq in 2003

27th September 2024 – Netherlands internet & tech investor Prosus ($106 billion) has exited China online travel platform Trip.com investment for $743 million in block trade sale.  Trip.com current market value is at $36 billion.  Trip.com was founded in 1999, and IPO on Nasdaq in 2003.  Prosus is a global consumer internet group and one of the largest technology investors and operators in the world.

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