By Carlo Martuscelli

Naspers Ltd. (NPN.JO) said Monday that it will spin off video entertainment business MultiChoice Group Ltd. on Feb. 27--the first trading day for shares in the newly created company.

South Africa-based media group Naspers said it will announce on Feb. 28 the value of the cash proceeds generated by its separation from MultiChoice Group.

There is no longer a strategic rationale to keep the two businesses together as they no longer generate synergies, Naspers said.

The company announced its intention to separately list MultiChoice Group in September.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

(END) Dow Jones Newswires

January 21, 2019 11:33 ET (16:33 GMT)