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Naspers' OLX Invests $94 Million in South Africa's Webuycars

Naspers Ltd.’s online classifieds business, OLX Group, said it will invest 1.4 billion rand ($94 million) in Webuycars, a South African vehicle-purchasing service.

Combining Webuycars’ instant-buying model and OLX’s online classifieds technology will “provide dealerships with improved access to stock and private buyers and sellers with an enhanced user experience,” OLX said in an emailed statement Tuesday.