Yesterday Qiwi, a major, NASDAQ-listed Russian payment operator, announced the full acquisition of SAER, a holding company that owns the Contact money transfer system and the Rapida payment processing system. Under the terms of the agreement, QIWI will issue 5,593,041 class B shares to the current owner, Russian financial group Otkritie.
Based on Qiwi’s current stock price on the NASDAQ, the value these shares would amount to some $167 million, the company’s press service told East-West Digital News. The closing is subject to regulatory approvals and other customary closing conditions. It is expected to occur in two instalments by mid-September 2015.