OLX B.V. acquired an additional 29.1% stake in OOO KEH eCommerce from Vostok New Ventures Ltd (OM:VNV SDB) and others for $1.2 billion on January 25, 2019. The transaction was funded by Naspers, parent of OLX B.V.'s existing cash resources. Post the transaction, OLX holds 99.6% stake and the remaining stake is held by the existing management of OOO KEH eCommerce. KEH eCommerce reported revenues of $286.5 million and EBITDA of $127.6 million for the year ending March 31, 2018. Vostok intends to use part of the net proceeds from the sale of Avito to redeem its outstanding bonds. Citi acted as financial advisor to OLX B.V. OLX B.V. completed the acquisition of an additional 29.1% stake in OOO KEH eCommerce from Vostok New Ventures Ltd (OM:VNV SDB) and others on January 25, 2019.