Otkritie Group will give CONTACT and Rapid to QIWI in exchange for part of its shares.
The payment system QIWI made a deal with the Otkritie financial group. QIWI will become the owner of Rapida and CONTACT payment systems owned by SAER Holding Company. Discovery will receive a 9.3% stake in QIWI. On the stock exchange, such a package of shares may cost about $ 170 million. Close the deal is planned until the end of II quarter of 2015. QIWI organizes an additional issue of its shares specifically for Otkritie.
So far, SAEP LLC is 70% owned by Otkritie Investments Cyprus Limited and 30% owned by InvestActive. Both companies, in turn, are members of the Otkritie group. Under the terms of the deal, Otkritie Investments Cyprus Limited will preliminarily buy out its share in SAEP LLC from InvestActive.
CONTACT was previously owned by Russlavbank. However, due to searches and increased attention from the law enforcement agencies, he began to have an outflow of liquidity. The partners of the bank demanded to return their guarantee deposits. Therefore, in May last year, Russlavbank put up for sale its own transfer system. So the group "Discovery" and took possession of the CONTACT system.
“Money transfer is one of the key areas of work for QIWI. This acquisition will not only allow us to increase our market share in remittances, but also become a strategic partner of Otkritie Financial Group, which is one of the largest Russian financial organizations. Together we will be able to offer our customers a range of innovative and relevant services, ”said Sergey Solonin, Chief Executive Officer of QIWI.
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“We attach great importance to the strategic partnership with QIWI. Its result will be the emergence of a player that holds leading positions in all segments of the online payments and remittances market, ”said the chairman of the board of directors Ruben Aganbegyan.
It is expected that by the end of 2015, the revenues of the CONTACT and Rapida companies will grow by 15%, and the profit - by 20%.
Against the background of the announcement of the transaction, QIWI stock quotes on the Moscow stock exchange rose by 7.5%, Interfax reports.
So far, SAEP LLC is 70% owned by Otkritie Investments Cyprus Limited and 30% owned by InvestActive. Both companies, in turn, are members of the Otkritie group. Under the terms of the deal, Otkritie Investments Cyprus Limited will preliminarily buy out its share in SAEP LLC from InvestActive.
CONTACT was previously owned by Russlavbank. However, due to searches and increased attention from the law enforcement agencies, he began to have an outflow of liquidity. The partners of the bank demanded to return their guarantee deposits. Therefore, in May last year, Russlavbank put up for sale its own transfer system. So the group "Discovery" and took possession of the CONTACT system.
“Money transfer is one of the key areas of work for QIWI. This acquisition will not only allow us to increase our market share in remittances, but also become a strategic partner of Otkritie Financial Group, which is one of the largest Russian financial organizations. Together we will be able to offer our customers a range of innovative and relevant services, ”said Sergey Solonin, Chief Executive Officer of QIWI.
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“We attach great importance to the strategic partnership with QIWI. Its result will be the emergence of a player that holds leading positions in all segments of the online payments and remittances market, ”said the chairman of the board of directors Ruben Aganbegyan.
It is expected that by the end of 2015, the revenues of the CONTACT and Rapida companies will grow by 15%, and the profit - by 20%.
Against the background of the announcement of the transaction, QIWI stock quotes on the Moscow stock exchange rose by 7.5%, Interfax reports.
Source: https://habr.com/ru/post/290560/
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