South African Naspers Buys 70 Percent Share of Turkish e-Commerce Company Markafoni

South African media group Naspers has bought 70 percent of Turkey’s third biggest e-commerce company, Markafoni, according to a press release issued on Thursday.

Multinational multimedia company Naspers has penetrated the Turkish e-commerce market by purchasing 70 percent of Markafoni, the first and leading private shopping club in Turkey, through its subsidiary MIH-Allegro.

The company did not release the value of the deal. The acquisition includes the sale of Markafoni Turkey, Markafoni Ukraine and Zizigo, the biggest online shoe store in Turkey. The acquisition is expected to bring dynamism to the Turkish e-commerce market and also facilitate Markafoni’s efforts to become a global brand.

With the partial sale, the shares of Markafoni will now be divided amongst Markafoni Chairman Sina Afra, board members Tolga Tatari and Ahmet Emre Sarı and MIH-Allegro. The change will not affect management, with Sina Afra, Tolga Tatari and Ahmet Emre Sarı remaining in charge, according to the statement
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Markafoni, an online shopping site offering discounts of up to 90 percent on well-known brands in many categories, has approximately 12 million visits per month. Markafoni is currently Turkey’s third biggest e-commerce company with 3.5 million members.

Established in 1915 in Cape Town, Naspers is a leading multinational media group listed on the Johannesburg Stock Exchange (JSE). The group is active in multiple markets such as Internet platforms, pay television and print media.

07 July 2011
SOURCE: TODAY’S ZAMAN