Ann: Encuentra24 transaction extends market leadership, page-2

So FDV drops from 42.07% holding in the smaller 4-country Encuentra24, to a new share of 26.3% in a larger business, with the split for the E24 holders in line with 2019 revenues for the combined company.

We're told Panama and Costa Rica are E24's current biggest markets of its existing four, with Guatemala and El Salvador the two additions.

Population / GDP
New: Guatemala: 17.25 million / 78.46 billion USD (2018) (6-8 million connected to the internet)
New: El Salvador: 6.8M / 26.06 billion USD (2018)

Existing: Panama 4.2M / 65.06 billion USD (2018)
Existing: Costa Rica 5M / 60.13 billion USD(2018)

-

Guatemala is the prize here.

-

Here's OLX talking in late 2019 about this asset, via translation, with edits down to what's relevant:

"The online classified ad platform OLX celebrates four years of operating in Guatemala and already has 1.2 million active users.

Q Compared to the region, how important is Guatemala for OLX?

A / We have a sub-region in OLX that we call "North-Latam" and there are the countries between Colombia and Guatemala. In Central America, Guatemala is the largest market, it is our flagship country in the region. And they not only demonstrate it with their macro country numbers, but they are the number one market for us.

There are 1.2 million active users on the platform in Guatemala, which allows us to grow, not only in the number of people who come to buy, but in sellers who see OLX as the ideal space to offer their products.

QHave you detected where these users are from?

A / There is a relevant position of the department of Guatemala. Approximately 85 percent of our users, buyers and sellers, are in Guatemala City. Then there are others like San Miguel Petapa, Antigua Guatemala or Escuintla.

QWhat is the most sold in Guatemala?

A / There are three major categories: cars, housing, and electronics. But, remember that there are 16 categories, so there is everything to get at OLX. Electronics are very easy to sell, because people change cell phones very easily, for example, and are always looking to upgrade ( upgrade ). Cars, for example, have between 10 and 12 thousand registered for sale, both used and new; while in housing there are some 23 thousand properties, including houses, apartments, offices, vacation homes, etc. There is an interesting market.