Qiwi to Buy $1B in Trust Company Finance
Qiwi, a major payment services provider in Russia, has announced plans to acquire a majority stake in Trust Company Finance (TCF), a leading Russian microfinance institution.
The deal, valued at approximately $1 billion, is expected to close by the end of the year.
Qiwi is a leading provider of payment services in Russia, with over 200,000 payment terminals and 16 million active users. The company offers a range of services, including mobile payments, online banking, and money transfers.
TCF is a leading Russian microfinance institution, with over 500,000 active borrowers. The company offers a range of microfinance products, including consumer loans, payday loans, and business loans.
The acquisition of TCF will give Qiwi a significant presence in the Russian microfinance market. The deal will also allow Qiwi to offer a wider range of financial services to its customers.
Here are some of the benefits of the deal for Qiwi:
- Increased market share in the Russian microfinance market
- Expanded range of financial services
- Access to TCF's customer base
- Improved financial performance
The deal is expected to be accretive to Qiwi's earnings per share in the first full year after closing.
The acquisition of TCF is a major step for Qiwi in its quest to become a leading provider of financial services in Russia. The deal will give Qiwi a significant presence in the microfinance market and allow it to offer a wider range of services to its customers.
Conclusion
The acquisition of TCF is a major step for Qiwi in its quest to become a leading provider of financial services in Russia. The deal will give Qiwi a significant presence in the microfinance market and allow it to offer a wider range of services to its customers.
The deal is expected to close by the end of the year.
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