The party is ON! Join us at TNW Conference 2021 in Amsterdam for face-to-face business!

The heart of tech

This article was published on July 2, 2012

Intel Capital sells stake in European online retail powerhouse NetRetail to Naspers

Intel Capital sells stake in European online retail powerhouse NetRetail to Naspers Image by: DWP - Fotolia
Robin Wauters
Story by

Robin Wauters

Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

MIH Allegro, a unit of South African mass media conglomerate Naspers, has acquired a controlling stake in Netretail Holding, an online retail giant in Central and Eastern Europe (CEE) with operations in the Czech Republic, Slovakia, Poland, Hungary and Slovenia with (self-reportedly) 3,200,000 registered customers.

The exiting shareholders are early backers Intel Capital, Intel’s global investment arm, and Eastern European private equity group MCI Management. The two firms had pumped about $56 million into the online retail company.

Financial terms of the MIH Allegro deal were not disclosed.

MIH Allegro, a 100% subsidiary of Naspers, operates a variety of e-commerce destinations and platforms in Central and Eastern Europe and Turkey (Markafoni).

Naspers is a large shareholder of Internet giants like Mail.ru and China’s Tencent.