Moka Merges with Birlesik to Form New Payment Giant
Deal News | Apr 11, 2025 | CEE Legal Matters
Erdem & Erdem, a legal advisory firm, has played a significant role in facilitating the merger of Moka Odeme ve Elektronik Para Kurulus and Birlesik Odeme Hizmetleri ve Elektronik Para. Moka is recognized as a payment service provider, while Birlesik operates as a licensed payment services and e-money company based in Turkiye. The merger received formal approval following the necessary consents from key regulatory bodies, including the Central Bank of the Republic of Turkiye, the Banking Regulation and Supervision Agency, and the Turkish Competition Authority. The merger was sanctioned during the General Assembly meetings of the involved companies on March 24, 2025, and has subsequently been registered officially. The newly merged entity will have joint ownership, with Isbank Group and Oyak Group each holding a 50% stake in the entity. Despite inquiries, Erdem & Erdem did not provide further comments on the merger.
Sectors
- Financial Services
- Legal Services
Geography
- Turkiye – Both Moka and Birlesik are based in Turkiye, and the regulatory approvals were from Turkish authorities, signifying the geographical relevance.
Industry
- Financial Services – The merger involves two companies providing payment services and e-money, which are core components of the financial services industry.
- Legal Services – Erdem & Erdem is a legal advisory firm that played a pivotal role in facilitating the merger, making legal services a relevant classification.
Financials
- 50% each by Isbank Group and Oyak Group – Ownership stake in the merged entity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Moka Odeme ve Elektronik Para Kurulus | Target Company | Company | A payment service provider involved in the merger. |
| Birlesik Odeme Hizmetleri ve Elektronik Para | Target Company | Company | A licensed payment services and e-money company involved in the merger. |
| Erdem & Erdem | Legal Advisor | Company | Advised on the merger process. |
| Isbank Group | Shareholder | Company | Holds a 50% stake in the merged entity. |
| Oyak Group | Shareholder | Company | Holds a 50% stake in the merged entity. |
| Central Bank of the Republic of Turkiye | Regulatory Approval Body | Government | Provided necessary approvals for the merger. |
| Banking Regulation and Supervision Agency | Regulatory Approval Body | Government | Provided necessary approvals for the merger. |
| Turkish Competition Authority | Regulatory Approval Body | Government | Provided necessary approvals for the merger. |