Hepsiburada, through one of its wholly owned subsidiaries, D-MARKET Electronic Services & Trading, Turkish e-commerce platform, is to acquire Doruk Finansman A.Ş., a Turkish consumer finance company.
Doğan Şirketler Grubu Holding A.Ş., the holder of 97% equity interest in Doruk Finansman, Doğan Dış Ticaret ve Mümessillik A.Ş. and Doğan family individuals, were the sellers in the transaction. The enterprise value of the company was TRY 20m (equivalent to US$1.3m as of December 16, 2021). At closing, the company will pay in cash an aggregate of TRY 5m on a pro rata basis. The company will pay DoHol TRY 15m in cash only upon collection of certain receivables identified in the financial statements of Doruk Finansman as of the closing day.
The closing of the transaction is subject to regulatory approval of Banking Regulation and Supervision Agency and Hepsiburada expects to complete the acquisition during the first quarter of 2022.
Once completed, Hepsiburada will be able to offer its customers diversified consumer financing solutions matching their affordability needs, enhancing its value proposition through providing financial flexibility.
Founded in Istanbul in 2000, Hepsiburada is an e-commerce technology platform which allows customers to access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through an embedded digital wallet called HepsiPay.
FinSMEs
20/12/2021