OLX Group to merge with EMPG's MENA and South Asia businesses in a $150m deal.

OLX Group, Prosus’s global classifieds business, agreed to merge with Emerging Markets Property Group, a property portal group in emerging markets, in Pakistan, Egypt, Lebanon and the UAE in a $150m deal. After transaction OLX Group will become EMPG's largest single shareholder, owning 39% of the company, and EMPG will be valued at $1bn. "I'm proud of what we have built in these four markets. Our brands are household names, and currently help tens of millions of people to exchange goods and services every month. The next phase is an exciting one, with EMPG’s real estate industry expertise helping deepen the customer experience. As EMPG’s largest shareholder, we'll have a front seat to explore how we can scale their services model further - taking our ambition to shape the future of classifieds into its next stage," Martin Scheepbouwer, OLX Group CEO.