29.01.2025 14:01
As the interest of foreign companies in Turkey's e-commerce market increases day by day, Hepsiburada, one of Turkey's well-known online shopping platforms, has been sold to Kazakhstanis. This situation is considered a development that could affect the balance and competition in the sector.
Hepsiburada announced to the NASDAQ Stock Exchange that the transfer of A and B group shares, representing 65.4% of the company, to Kazakhstan-based Kaspi.kz has been completed. The written approvals from the Competition Authority, Banking Regulation and Supervision Agency, Information Technologies and Communications Authority, and the Central Bank of the Republic of Turkey regarding the share transfer, as part of the share purchase agreement signed on October 17, 2024, were completed in recent weeks.
The total value of the share transfer is approximately 1 billion 127 million US dollars, of which 600 million dollars will be paid in cash to the sellers at the closing of the transaction, while the deferred cash payment of 526.9 million dollars will be completed within six months from the closing date.
BRAND IDENTITY WILL BE PROTECTED
According to the agreement, Hepsiburada and Kaspi.kz will continue to operate while maintaining their independent brand identities and operational structures.
Following the completion of the share transfer, Hepsiburada's Extraordinary General Assembly will also take place on January 31, 2025. During the General Assembly meeting, where the new Board of Directors of Hepsiburada will be determined, it will be decided whether Kaspi.kz representatives Mikheil Lomtadze, Tengiz Mosidze, Yuri Didenko, Pavel Mironov, and Sandro Berdzenishvili will join the Hepsiburada Board of Directors, along with other agenda items.