QIWI plc has closed the first part of a transaction to buy 100% of money transfer system Contact and non-banking lending institution Rapida from financial group Otkritie, grabbing a 70% stake in exchange for 3,915,129 Class B shares to be issued in favor of the seller, QIWI said on its website.
The company expects that the purchase of the remaining 30% holding in exchange for 1,677,912 Class B shares in favor of Otkritie would be wrapped up until late July 2015 (provided that several conditions required for this are met), the company said in a press release.
To remind, in mid-May QIWI announced the acquisition of a 100% stake in Contact and Rapida from Otkritie Group. It was specified that after QIWI's additional share issue Otkritie would get 9.3% of the company. The parties also intended to sign a cooperation agreement to promote new products and services to the financial services market.
QIWI forecast that following the takeover of Contact and Rapida adjusted net revenue and net profit would jump roughly 15—20% in 2015. so-ansi-language:RU'> The media previously reported that the State Duma had adopted the law on the amnesty of to-be-declared foreign capital.
