Hepsiburada Finalizes Transfer of 65.4% Stake to Kaspi.kz

Hepsiburada, one of Turkey's leading e-commerce platforms, has announced the completion of regulatory approvals required for the transfer of 65.4% of its shares to Kaspi.kz, a Kazakhstan-based fintech and retail platform. This development marks a significant milestone in the partnership that began with a share purchase agreement signed on October 17, 2024.

The transfer process involved obtaining approvals from several key regulatory authorities in Turkey. According to Hepsiburada, written approvals from the Competition Authority, the Banking Regulation and Supervision Agency (BRSA), the Information and Communication Technologies Authority (ICTA), and the Central Bank of the Republic of Turkey (CBRT) have been successfully secured. These approvals were critical in ensuring compliance with legal and regulatory frameworks, enabling the progression of the transaction.

In a notification submitted to the NASDAQ Stock Exchange, Hepsiburada disclosed that its Extraordinary General Assembly would be held on January 31. The meeting is expected to elect a new board of directors, a move that is anticipated to shape the future direction of the company under its new majority ownership structure. This transition signifies a potential shift in Hepsiburada's operational and strategic priorities as it collaborates with a major player in the Central Asian market.

The acquisition by Kaspi.kz is viewed as a strategic step for both companies. Hepsiburada, known for its strong presence in the Turkish e-commerce sector, may benefit from Kaspi.kz's expertise in integrating financial services with retail operations. Meanwhile, Kaspi.kz is likely to leverage this acquisition to expand its footprint in the competitive Turkish market, which is a growing hub for e-commerce and digital innovation.

As the transition unfolds, industry observers are closely monitoring its implications for Turkey's e-commerce ecosystem. The partnership reflects a broader trend of international collaborations in the digital economy, where companies seek to consolidate resources and expertise to stay competitive.

The upcoming general assembly on January 31 will provide more clarity on the future leadership and strategic plans for Hepsiburada, signaling the beginning of a new era for the company and its stakeholders.