South African billionaire Koos Bekker-led Prosus enters France with $1.3 billion deal

Prosus N.V., the global consumer internet group chaired by South African billionaire Koos Bekker, is making a bold push into Western Europe with a $1.3 billion acquisition of La Centrale, a leading French auto advertising marketplace.

The all-cash deal, valued at €1.1 billion ($1.3 billion), gives Prosus’s classifieds arm OLX its first major foothold in France, Europe’s second-largest car market. It also expands the group’s reach beyond Central and Eastern Europe, where OLX already serves more than 29 million monthly users.

“This acquisition is a natural fit within our classifieds portfolio,” said Christian Gisy, OLX’s chief executive. “La Centrale’s strong market position and experienced team are the perfect foundation to build customer-first solutions in France.” 

A market in transition

La Centrale has been a trusted brand in France for nearly six decades. It attracts 4.5 million unique visitors a month and lists about 350,000 vehicles, with particular strength in higher-value used cars. That focus has become increasingly important as French consumers shift away from costly new vehicles. Margins for dealers have been squeezed by the rise of electric cars and tougher competition, while demand for transparency on digital platforms has grown. 

Only 36 percent of used-car transactions in France currently go through dealerships, compared with 70 percent in Germany. Prosus sees that as a clear opening. “Platforms like La Centrale connect professional sellers with a growing pool of value-conscious buyers,” said Fabricio Bloisi, CEO of Prosus and Naspers. 

Backed by Providence Equity Partners since 2021, La Centrale has posted solid numbers, recording 12 percent annual growth in classifieds revenue and improving profitability. OLX anticipates building on that momentum by combining its advertising acumen with AI competence.

Betting big on AI

For Prosus, the deal is about more than classifieds. The company has been investing heavily in artificial intelligence, employing about 200 data scientists and spending €20 million ($23.4 million) last year alone. “La Centrale has already transformed into a data-driven platform,” said Bloisi. “By combining it with OLX’s AI capabilities, we can enhance pricing, sourcing, and sales tools for dealers while improving the customer experience.”

Executives avoided making bold synergy promises but emphasized that the integration will focus on rolling out AI-powered tools, expanding dealer partnerships, and boosting efficiency.  The move also aligns with France’s push to position itself as a hub for AI research and deployment.

Expanding global footprint

Prosus, created in 1997 as part of South Africa’s Naspers and listed in Amsterdam in 2019, has built its reputation on selective bets in high-growth digital markets. Koos Bekker, who still chairs Naspers, holds a 0.84 percent personal stake in Prosus worth more than $1 billion. 

The French acquisition follows recent deals in India. Last week, Prosus invested $222 million in ride-hailing startup Rapido, raising its stake as rival Swiggy exited. Also this month, it spent $139 million to lift its holding in Urban Company to 7.35 percent ahead of the home-services firm’s planned IPO. Together, the moves highlight Bekker’s and Bloisi’s appetite for scale in markets where technology and consumer habits are shifting quickly.