Eldik Bank OJSC has completed a strategic transaction on acquisition of Sky Mobile (Beeline Kyrgyzstan brand)
Eldik Bank OJSC has successfully completed a transaction on acquisition of 100% share in Sky Mobile LLC, a mobile operator providing services under the Beeline brand. This step became an important milestone in the development of the digital ecosystem and strengthening the Bank's technological infrastructure.
The transaction was implemented in accordance with international standards for corporate transactions (M&A), including carrying out of a comprehensive legal, technical, financial and tax audit (due diligence). The Main Share Purchase and Sale Agreement was concluded under the law of England and Wales, which is an international practice to ensure transparency, legal protection of the parties and trust from global investors and partners.
The ultimate sellers of the share in the company were the international telecommunications group VEON Ltd. with headquarters located in the United Arab Emirates and the investment company Crowell Investments Ltd, part of the Kazakh group Verny Capital. The transaction was implemented in compliance with international standards of investment banking and corporate governance.
"We are proud that the transaction on acquisition of Sky Mobile has become an example of an open and professional approach to the implementation of strategic projects. The use of international legal mechanisms and best M&A practices emphasizes our course towards integration into the global financial and economic space. The acquisition of Sky Mobile is not just a telecom asset. This is a step towards the formation of a powerful digital platform that will unite banking and communication technologies for the development of the economy of Kyrgyzstan and improving the quality of life of our citizens. I would like to note that this transaction was implemented with the support of the President of the Kyrgyz Republic Sadyr Nurgozhoevich Zhaparov," said Ulanbek Nogaev, Chairman of the Board of Eldik Bank OJSC.
The acquisition of Sky Mobile opens a new chapter in the Bank's development as a digital and technological institution. Combining the potential of two leading companies will allow us to offer the market the cutting-edge solutions in the field of mobile banking, digital payments, and next-generation financial and communications services. Joint projects aimed at developing fintech, integrating modern payment instruments, and increasing digital accessibility in the regions will be launched in the nearest future.
It is worth noting that Sky Mobile will continue its operations under the Beeline brand, while maintaining its team, operating model, and client base.
Eldik Bank would like to express its special gratitude to our partners, the international telecommunications group VEON Ltd. and the investment company Crowell Investments Ltd (Verny Capital Group), for their constructive cooperation and high level of professionalism in the process of preparing and implementing the said transaction.
We would like to express special gratitude to the teams of all parties, lawyers, consultants, and specialists who ensured the successful completion of the transaction in accordance with international standards. We also highly value the personal contribution of VEON Ltd. CEO Kaan Terzioglu and Verny Capital Group CEO Aidan Akanov, whose leadership and strategic vision contributed to achieving a mutually beneficial outcome.
VEON Ltd.:
VEON is a global digital operator, providing telecom and digital services to almost 160 million customers in 5 countries, representing more than 7% of the world's population. The company helps change people's lives, create opportunities for greater digital inclusion, and drive economic growth in the countries where it operates. VEON shares are listed on NASDAQ. For more details please visit veon.com.
Crowell Investments / Verny Capital:
The investment company, part of the Verny Capital Group, is one of the largest private investment holdings in Kazakhstan with a diversified portfolio in the areas of telecommunications, finance, hospitality, real estate and natural resources.
Sky Mobile (Beeline Kyrgyzstan):
One of the largest mobile operators in the Kyrgyz Republic, providing services to millions of subscribers. Operates in the field of voice communications, mobile Internet, digital solutions and corporate services.
