Kyivstar closes deal to acquire 97% of Uklon for $155.2 mln
Ukraine's largest mobile operator Kyivstar closed a deal to acquire 97% of the corporate rights of the online taxi service Uklon for $155.2 million, the company's press service reported on Wednesday.
It is noted that the remaining 3% of Uklon's corporate rights will remain in the ownership of one of the company's co-founders, Vitaliy Diatlenko.
Under the terms of the deal, Kyivstar made a payment in hryvnia - taxes on the funds received in the amount of 23% (including military tax) will be paid to the state budget. Part of the funds received in the amount of 12% will be paid to members of the Uklon team who were participants in the company's motivational program, the report says.
The company reminded that Kyivstar and Uklon will operate as separate businesses after the deal. The team under the leadership of the current CEO Serhiy Hryshkov will continue to work at Uklon.
At the same time, the corporate management of Uklon will be carried out by the supervisory board under the leadership of Kyivstar CEO Oleksandr Komarov. The governing body will include representatives of both companies, in particular, Kyivstar Business Development Director Zoya Dronshkevych, Kyivstar CFO Borys Dolhushyn, and Uklon co-founders Serhiy Smus and Vitaliy Diatlenko.
"The agreement with Uklon is an important strategic step for Kyivstar on the path to creating a modern digital operator. We are betting on Uklon's talented team and promising business, which have already proven their effectiveness in the market. Our goal as a strategic investor is to develop existing online car ordering and delivery services, implement new solutions and services, and enter international markets, strengthening the competitive advantages of both companies," the press service of Kyivstar quotes CEO Oleksandr Komarov.
Uklon co-founder Dmytro Dubrovsky recalled that last week the company celebrated the 15th anniversary of the first order and its founding.
"We are very glad that Uklon will continue its development with a new powerful strategic investor - Kyivstar. We are confident that this will mutually strengthen the positions of the companies and help Uklon reach a new level both in Ukraine and abroad," Dubrovsky said.
The legal advisors to the transaction were the law firm Sayenko Kharenko, and the financial advisors were the auditing company KPMG Ukraine. The law firm Imagine Lawyers acted as a legal advisor to Uklon. Exclusive financial support from Uklon was provided by the investment company Dragon Capital.
