The World: Johannesburg - Naspers buys stake in Brazilian media owner

The South African publisher Naspers has bought a 30 per cent stake in Abril, Brazil's second-largest media company.

Naspers paid $422 million for a 13.8 per cent stake from the US mutual company Capital Group. It bought the rest of the stock from the Civita family, which owns the rest of the company.

Abril, which is based in Sao Paulo, publishes 11 titles, including Veja.

It holds a 58 per cent share of magazine advertising in Brazil.