Core Viewpoint - D-MARKET Electronic Services & Trading, operating as Hepsiburada, has completed a significant transaction where Joint Stock Company Kaspi.kz has acquired 65.41% of Hepsiburada's shares for approximately $1,127 million, marking a change in controlling ownership [1][2]. Group 1: Transaction Details - The Buyer purchased all outstanding Class A and Class B shares from the Sellers, representing 65.41% of Hepsiburada's total shares [2]. - The total consideration for the shares was approximately $1,127 million, with $600 million paid in cash on the Closing Date and $526.9 million as Deferred Cash Consideration to be paid within six months [2]. - As collateral for the Deferred Cash Consideration, the Buyer pledged 65,199,658 Class B shares of Hepsiburada [2]. Group 2: Company Overview - Hepsiburada is a leading e-commerce technology platform in Türkiye, utilizing a hybrid model that includes both first-party direct sales and a third-party marketplace with around 100,000 merchants [3]. - The platform aims to lead the digitalization of commerce, providing a wide range of services such as last-mile delivery, fulfillment, advertising solutions, cross-border sales, and payment services [4]. - Hepsiburada's fintech platform, Hepsipay, offers secure payment solutions, enhancing shopping convenience and driving higher sales conversions for merchants [4]. Group 3: Social Impact - Since its inception in 2000, Hepsiburada has focused on empowering women in the Turkish economy, launching the 'Technology Empowerment for Women Entrepreneurs' program in 2017, which has supported nearly 57,500 female entrepreneurs [5].
Hepsiburada Announces the Closing of the Change of Control Transaction between Joint Stock Company Kaspi.kz and the Founder of Hepsiburada and Other Affiliates