Core Viewpoint - Kaspi.kz has signed a share purchase agreement to acquire Rabobank's Turkish subsidiary, Rabobank A.Ş., which is not considered a material transaction [1]. Group 1: Transaction Details - The acquisition is pending regulatory approvals and customary closing conditions [2]. - Rabobank A.Ş. is a fully licensed bank in Turkiye without borrowing or depositing clients and lacks a branch network [1]. Group 2: Company Overview - Kaspi.kz aims to enhance lives through innovative mobile products and services, operating a two-sided Super App model for consumers and merchants [3]. - The Super Apps provide access to Payments, Marketplace, and Fintech Platforms, facilitating transactions between consumers and merchants [4]. - The company boasts a large, engaged user base and a capex lite approach, leading to strong growth and profitability [5]. - Kaspi.kz has been listed on Nasdaq since January 2024 and has been the subject of case studies at Harvard Business School [5].
Kaspi.kz to acquire Rabobank Group's Turkish subsidiary Rabobank A.Ş.