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Germany's Rocket Internet off-loads stake in African online retailer Jumia

Germany-based technology investor Rocket Internet SE divested its stake in African online retailer Jumia Group, Reuters reported April 2.

Rocket Internet, which owns stakes in more than 200 private companies, sold its 11% shareholding in Nigeria-based Jumia Group to an undisclosed buyer prior to the onset of the coronavirus crisis. The deal was completed April 2, according to S&P Global Market Intelligence data.

Bettina Curtze, head of finance and investments at Rocket Internet, declined to reveal how much the company made from the sale, but said they were included in the €2.1 billion net cash the company had as of March 31.