Kaspi.kz Completes Strategic Acquisition of Hepsiburada
ALMATY, Kazakhstan — Joint Stock Company Kaspi.kz (NASDAQ: KSPI) has successfully concluded its acquisition of a significant stake in D-Market Electronic Services & Trading, commonly known as Hepsiburada (NASDAQ: HEPS). This move sees Kaspi.kz obtain 40 million Class A shares and 173,246,220 Class B shares, collectively solidifying its control over over 65% of Hepsiburada's equity, effective immediately following the completion of regulatory approvals.
A Vision for Sustainable Growth
Mikheil Lomtadze, the CEO and co-founder of Kaspi.kz, expressed enthusiasm about this acquisition, highlighting the potential for reaching a market comprising 100 million consumers. He emphasized the shared vision between Kaspi.kz and Hepsiburada for sustainable and profitable growth, rather than merely expansion at any cost.
Leveraging Combined Strengths
The integration of resources from both companies aims to foster innovation within the e-commerce and digital services space. According to Lomtadze, both entities are entrepreneurial at their core and possess unique insights that will enhance their operational capabilities. This merger illustrates the goal of benefiting small and medium enterprises (SMEs) and entrepreneurs in both Kazakhstan and Türkiye, resulting in shared opportunities across the region.
Hepsiburada's Future Vision
Hanzade Do?an, the founder of Hepsiburada, shared her excitement over the partnership. She has always envisioned Hepsiburada's growth journey to be one focused on value creation and sustainable development. The strategic alliance with Kaspi.kz, which is recognized for its innovative solutions in the tech industry and as a prominent NASDAQ-listed company, is seen as pivotal for advancing Hepsiburada's next phase.
Support for Local Businesses
Do?an believes that Kaspi.kz's commitment and trust in Hepsiburada will enhance its position in Türkiye’s competitive e-commerce market. This partnership is not only about operability; it aims to create a broader positive impact on local SMEs, entrepreneurs, and consumers by unlocking new potential within the digital ecosystem.
Transaction Overview and Financial Implications
The acquisition involved a transaction valued at approximately $1.127 billion, with $600 million paid upfront to the sellers and the remaining amount earmarked for payment within six months. As part of this financial arrangement, Kaspi.kz has pledged shares of Hepsiburada to ensure the deferred payment process.
Maintaining Distinctive Brands
Despite the acquisition, both Kaspi.kz and Hepsiburada will continue to operate under their individual brand identities, ensuring that their unique value propositions are preserved. This strategic decision reflects the recognition of the importance of brand identity in the marketplace.
Innovative Solutions for Consumers and Merchants
Kaspi.kz is at the forefront of mobile innovation, operating successful platforms such as the Kaspi Super App and Kaspi Pay Super App. These applications have garnered immense popularity, with metrics indicating 14 million monthly active users. The Super App provides a comprehensive suite of services catered to everyday needs, thereby facilitating seamless transactions between consumers and merchants.
Building a Promising Future Together
The joining of forces with Hepsiburada marks not just a strategic acquisition but a commitment to enhancing the quality of e-commerce services in both Türkiye and Kazakhstan. It signifies a new chapter with the potential to revolutionize how consumers and businesses interact within the digital marketplace.
Frequently Asked Questions
What was the main goal of Kaspi.kz's acquisition of Hepsiburada?
The main goal of the acquisition was to expand Kaspi.kz's market reach and create sustainable growth in the evolving e-commerce sector of Türkiye.
What percentage of Hepsiburada’s shares does Kaspi.kz now own?
Kaspi.kz now owns 65.41% of Hepsiburada’s total outstanding shares, making it the controlling shareholder.
What are the benefits expected from this partnership?
This partnership is anticipated to enhance innovation and operational capabilities, benefiting local SMEs and consumers by creating more opportunities in the digital marketplace.
Who are the key figures involved in this transaction?
Mikheil Lomtadze, CEO of Kaspi.kz, and Hanzade Do?an, founder of Hepsiburada, are key figures emphasizing the strategic vision driving this acquisition.
How will Kaspi.kz and Hepsiburada operate post-acquisition?
Both Kaspi.kz and Hepsiburada will maintain their respective brands and independent operating structures while collaborating for mutual growth and success.
