Koos Bekker family trust dumps R2.9 billion in Prosus shares

A family trust linked to Koos Bekker — one of South Africa’s richest people — sold about €156 million (R2.97 billion) of shares in internet investing giant Prosus to fund building operations at hotels in South Africa, the UK and Italy. 

The trust associated with the billionaire who chairs the company sold 3.9 million shares over three days this week, Amsterdam-based Prosus said in a statement Thursday.

Prosus’ parent company is Cape Town-headquartered Naspers, which Bekker helped build into one of the biggest technology investors globally.

Under his leadership, the newspaper publisher grew into the biggest emerging-market media group, owning Africa’s largest pay-TV network and stakes in Hong Kong-based Tencent.

He also helped found mobile-network operator MTN.

Bekker, 72, and his wife Karen Roos — a former editor of Elle Decoration South Africa — have together developed luxury country estates with restaurants, gardens and spas including Babylonstoren in South Africa’s Western Cape province and The Newt in Somerset in the UK. 

The family trust continues to retain all its Naspers shares and four-fifths of the total interest in Prosus that it had prior to the disposals, according to the statement.