Koos Bekker sells R2.5 billion in Naspers shares

A family trust linked to South African tycoon Koos Bekker sold 2.5 billion rand ($150 million) of Naspers shares to finance the construction of hotels in South Africa, the United Kingdom and Italy.

The stake was sold over three days to Dec. 19, Naspers said in a regulatory filing on Tuesday.

Bekker owns luxury venues, including the Newt in Somerset in the UK and Babylonstoren in South Africa’s Western Cape province, and has been selling equities to help expand the business. His trust sold €156 million ($184 million) of shares in the same period last year.

Bekker helped build Naspers into one of the biggest technology investors globally. Under his leadership, the newspaper publisher grew into the biggest emerging-market media group, with a stake in Hong Kong-based Tencent Holdings. He also helped found mobile-network operator MTN Group.