Prosus N.V. (PROSF.PK), Monday announced that the company has agreed to acquire Argentina-based Despegar.com, Corp. (DESP), an online travel agency, for $19.50 per share, amounting to a total of $1.7 billion.
The transaction, funded by the company's existing cash resources, is estimated to strengthen Prosus's position in Latin America.
The deal is expected to close in the second quarter of 2025.
During the pre-market hours, Despegar's stock is climbing 32.35 percent, to $19.39 on the New York Stock Exchange.
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