Naspers Group buys 70% of eMAG shares

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Naspers bought 70% of the total share count of eMAG. Naspers thus adds eMAG to its already big portfolio. Naspers Group has websites like Mail.ru, PayU Romania, autovit.ro, mercador.ro, compari.ro and many others.

eMAG is currently a team composed of 450 members that sells through the e-store interface well over 60 000 products. After Nasper aquisition the remaining shares go to: Iulian Stanciu (21.6%) and Radu Apostolescu (8.4%). Sebastian Ghita, the previous major stockholder chose to sell all his shares.

He relates to the press how eMAG was built from the ground starting 11 years ago. Back then Romania did not have a market for products sold online. Without an exact plan and with people’s mentality from back then eMAG seemed like something ripped from a movie. “The American Dream can be lived in your home country, no matter where you are!”, Radu Apostolescu (eMAG co-founder and Development director) added.

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