Kaspi.kz Acquires Controlling Stake in Hepsiburada
Deal News | Jan 29, 2025 | Globenewswire
Kaspi.kz, a leading financial technology company from Kazakhstan, has successfully acquired a controlling interest in Hepsiburada, a prominent e-commerce platform in Turkey. The acquisition, completed for approximately $1.127 billion, involves the purchase of significant Class A and Class B shares from several sellers, including Hepsiburada's founder, Hanzade Doğan. This strategic move aligns with Kaspi.kz's goal to expand its market reach to an additional 100 million people, enhancing its presence in the e-commerce sector. The acquisition also maintains the distinct operational and brand identities of both companies. Kaspi.kz, through its Super Apps, continues to strengthen its service offerings in payments and marketplace platforms, aiming for sustainable growth and innovation. The transaction has received necessary approvals from relevant regulatory authorities, ensuring compliance and fostering future growth opportunities across Kazakhstan and Turkey.
Sectors
- E-commerce
- Financial Technology
Geography
- Kazakhstan – Kaspi.kz is based in Kazakhstan and is expanding its operations through this acquisition.
- Turkey – Hepsiburada, the target company in the acquisition, is a leading e-commerce platform in Turkey.
Industry
- E-commerce – The article involves Hepsiburada, a leading e-commerce platform in Turkey, and discusses the acquisition of its shares.
- Financial Technology – Kaspi.kz is described as a fintech company focusing on innovative mobile products and services.
Financials
- $1,127 million – Total consideration for the acquisition of Hepsiburada shares.
- $600 million – Amount paid in cash to the Sellers on the Closing Date.
- $526.9 million – Deferred Cash Consideration to be paid within six months of the Closing Date.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kaspi.kz | Acquirer/Buyer | Company | Kazakh e-commerce and fintech company completing the acquisition. |
| Hepsiburada | Target Company | Company | Turkish e-commerce platform acquired by Kaspi.kz. |
| Hanzade Doğan | Seller | Person | Founder and controlling shareholder of Hepsiburada. |
| Vuslat Doğan Sabancı | Seller | Person | One of the sellers in the acquisition. |
| Begüm Doğan Faralyalı | Seller | Person | One of the sellers involved in the transaction. |
| Arzuhan Doğan Yalındağ | Seller | Person | One of the sellers in the acquisition process. |
| İl Doğan | Seller | Person | Involved in the sale of Hepsiburada shares. |