Hepsiburada to be sold to Kazakh company: Terms of the deal revealed

E-commerce giant Hepsiburada is being sold to a Kazakh company.

According to a report by Reuters, the Kazakh online shopping platform Kaspi.kz has agreed to acquire 65.41% of D-Market, the owner of Hepsiburada, for 1.13 billion dollars.

In a statement released by the company, it was stated that an agreement was signed yesterday with members of the Doğan family for the purchase of Class A and B shares, which correspond to 65.4% of Hepsiburada's capital.

The acquisition is expected to be completed in the first half of 2025, following the receipt of necessary regulatory approvals.

According to the statement, 600 million dollars of the 1.13 billion dollar total will be paid at the closing of the deal, and 526.9 million dollars will be paid within six months after the closing.

Shares of Hepsiburada, which are traded on the US stock exchange, closed at 2.2 dollars yesterday. According to LSEG data, Hepsiburada's market capitalization was at the 707 million dollar level.

News Source: 12punto