Kazakh Kaspi.kz acquires Turkish e-commerce site Hepsiburada
Kazakh giant Kaspi.kz reached an agreement with the Turkish e-commerce site Hepsiburada to become the latter’s controlling shareholder for 1.13 billion dollars.
Duvar English
Kazakhstan's largest online shopping group Kaspi.kz has become the controlling shareholder of the Turkish e-commerce site in a deal worth 1.13 billion dollars, Turkish media outlets reported on Oct. 18.
Accordingly, Kaspi.kz agreed to buy 65.41 percent of D-Market, the owner of Hepsiburada, for 1.13 billion dollars on Oct. 17.
The acquisition is expected to be finalized in the first half of 2025 after the necessary permits.
The first installment of around 600 million dollars is scheduled to be paid at closing and the second installment is scheduled to be paid no later than 6 months following the closing.
Hepsiburada is the first company from Turkey to list on the Nasdaq stock exchange.
Founded in 2000 by Hanzade Doğan, Hepsiburada operates online platforms on which consumers can order items ranging from groceries and essentials to airline tickets. The company launched its marketplace in 2015 and has an in-house logistics network.