M&As this week: Woolworths, Naspers, Tata Group
Australian supermarket chain owner and operator Woolworths has sold its stake in New Zealand-based company EziBuy to private equity firm Alceon Group.
EziBuy is a direct-to-customer retailer of apparel and homewares.
Alceon will hold the stake in Ezibuy through New EziBuy, a new holding company that will be based in New Zealand.
South African media group Naspers has reached an agreement to acquire an additional stake in Flipkart Online Services.
In addition to an earlier $71m investment, the additional stake purchase will increase Naspers’ total stake in Flipkart to 16.5%.
Indian conglomerate Tata Group has reached an agreement to acquire GrocerMax, reported Inc42 Media.
Also based in India, the target company is an online grocery shopping platform.
Following the acquisition, the management team and technology infrastructure of the GrocerMax will become part of Tata Group.