Naspers in talks to invest up to R2.5bn in India’s food-delivery company, Swiggy
Johannesburg — Naspers is in talks to lead an investment of as much as R2.5bn ($200m) in India’s Swiggy to increase its stake in the online food-delivery company, according to two people familiar with the matter. Africa’s biggest company by market value plans to team up with China’s Tencent Holdings, of which Naspers owns 33%, to put together the new financing round, said the people, who asked not to be named as the information isn’t public. The talks come after Larry Illg, the head of Naspers’s new investments unit, told investors at a meeting in New York in December that order volumes at Swiggy have more than doubled year on year and that the global food-delivery industry is still at an early stage of development. Naspers and Tencent see significant opportunities to co-invest in India, CEO Bob van Dijk said in the same presentation, without mentioning Swiggy. Jane Yip, a spokesperson for Tencent, didn’t respond to a request for comment sent by e-mail and text message. Naspers inve...
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