"Elvik Bank" acquired a 100% stake in "Beeline Kyrgyzstan"

“Eldik Bank” successfully completed the acquisition of a 100% stake in “Sky Mobile,” operating under the “Beeline Kyrgyzstan” brand.

This marks an important milestone in the development of the digital ecosystem and strengthening the Bank’s technological foundation. The transaction was conducted in accordance with international standards, including comprehensive legal, technical, financial, and tax due diligence. The main purchase and sale agreement was governed by the laws of England and Wales, ensuring transparency, protection of the parties’ interests, and investor confidence.

The sellers of the stake were the international telecommunications group VEON Ltd., UAE, and the investment company Crowell Investments Ltd from the “Verny Capital” group, Kazakhstan.

The acquisition of “Sky Mobile” opens up new opportunities for combining resources and implementing advanced solutions in the field of mobile banking, digital payments, and next-generation financial and communication services. Joint projects on FinTech development, integration of modern payment tools, and enhancing digital accessibility in regions will soon launch. “Sky Mobile” will continue to operate under the Beeline brand, retaining its team, operational model, and customer base.

Source: eldik.kg