Kismet Capital Group acquires Advanced Payment Solutions – Kommersant

The Russian investment holding Kismet Capital Group became the owner of the Advanced Payment Solutions (PPR) company, which is a technology operator of business services. Kismet Capital Group bought a 100% stake in PPR from the American holding Fleetcor Technologies, Inc., the deal has already been approved by the Federal Antimonopoly Service (FAS) of Russia and the US Treasury.

“The deal has been approved by the Federal Antimonopoly Service, the Foreign Investment Control Commission in Russia and the Office of Foreign Assets Control of the US Department of the Treasury,” the PPR notes (cited from “Interfax”). The financial terms of the deal were not disclosed.

“As a result of the transaction, PPR LLC, including all subsidiaries, comes under the control of a new shareholder represented by Kismet Capital Group. The top management and the PPR team in Russia will continue to develop the business within the framework of the existing strategy in the corporate services market,” the Advanced Payment Solutions specifies.

Also information on the sale of PPR to a Russian holding confirms and Fleetcor Technologies, Inc.

Advanced Payment Solutions is a major fintech business services provider in Russia. The PPR service network is one of the largest and has more than 20,000 TOs throughout Russia. PPR cooperates with all major networks of oil and gas companies. PPR clients are more than 68,000 companies engaged in the field of cargo transportation or using transport to ensure the life of their business. PPR provides a wide range of services: payment for fuel, car washes, tire fitting, parking lots, taxis, toll roads, monitoring of traffic police fines, leasing and many other services that can be paid from a single company account.

Kismet Capital Group acquired the Avito service for 151 billion rubles last fall. from the South African holding Naspers.

Alexander Kislov