Qiwi has completed the sale of Russian assets – Kommersant
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Qiwi (MOEX: QIWI) plc has completed a deal to separate its business and sell Russian assets, said the company’s new executive director, Alexey Mashchenkov. He noted that the company is preparing to expand its presence in international markets.
“We have just completed a complex procedure for the sale of Russian assets. Qiwi plc has all the necessary resources, a talented team, the support of the board of directors, and we are ready to expand our presence in international markets. Our priority remains creating shareholder value, and we will strive to ensure sustainable and profitable business growth,” says a Qiwi press release (available from Kommersant).
Qiwi plc announced the division of its business into Russian and international segments in June 2023. January 19, 2024 Qiwi reported, which will sell its assets in Russia for 23.7 billion rubles. Hong Kong company Fusion Factor Fintech Limited, owned by the former chief executive officer of Qiwi plc Andrey Protopopov.
After the completion of the transaction, Andrey Protopopov left the board of directors and the post of executive director of Qiwi. Now he runs only a business in Russia – JSC QIWI. Under the terms of the deal, Alexey Mashchenkov was appointed to the position of Mr. Protopopov. His deputy Elena Nikonova became the new financial director. After the sale of assets, Qiwi plc planned to repurchase its American depositary shares from NASDAQ and the Moscow Exchange.
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