Otkritie Group will give CONTACT and Rapid to QIWI in exchange for part of its shares

    QIWI payment system made a deal with Otkritie financial group . QIWI will become the owner of the Rapida and CONTACT payment systems owned by the SAER holding company. Otkritie will receive a 9.3% stake in QIWI. On the stock exchange, such a stake may cost about $ 170 million. It is planned to close the deal before the end of the second quarter of 2015. Especially for the "Discovery" QIWI organizes an additional issue of its shares.

    So far, SAER LLC is 70% owned by Otkritie Investments Cyprus Limited and 30% by Investaktiv. Both companies, in turn, are part of the Otkrytie group. Under the terms of the transaction, Otkritie Investments Cyprus Limited will pre-repurchase its stake in SAER LLC from Investactiv.

    CONTACT was previously owned by Russlavbank. However, due to searches and increased attention from law enforcement agencies, he began an outflow of liquidity. Bank partners demanded to return their guarantee deposits. Therefore, in May last year, Russlavbank put up for sale its transfer system. So the group "Discovery" and took control of the CONTACT system.

    “Money transfers are one of the key areas of work for QIWI. This acquisition will not only allow us to increase our share in the money transfer market, but also become a strategic partner of the Otkritie Financial Group, which is one of the largest Russian financial organizations. Together we can offer our customers a number of innovative and relevant services, ”said Sergey Solonin, QIWI Chief Executive Officer.

    “We attach great importance to the strategic partnership with QIWI. Its result will be the emergence of a player holding a leading position in all segments of the online payment and money transfer market, ”said Ruben Aganbegyan, chairman of the board of the holding.

    According to the results of 2015, the revenue of CONTACT and Rapida companies is expected to grow by 15%, and profit by 20%.

    Amid reports a deal QIWI share prices on the Moscow stock exchange rose by 7.5%, reports "Interfax".

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