Fusion Factor Fintech Limited completed the acquisition of Russian assets of JSC Qiwi.
Fusion Factor Fintech Limited completed the acquisition of Russian assets of JSC Qiwi on January 29, 2024. The price of the Transaction was RUB 23.75 billion to be paid in several installments over four years. 100% of the shares of the Buyer were pledged in favor of the Company to secure the payment of the Transaction price. As of April 3, 2024, The Deposit Insurance Agency (DIA) filed a lawsuit against the owners of Qiwi Bank, namely JSC Qiwi, Fusion Factor Fintech Limited, and Qiwi plc seeking to invalidate the contract of pledge and encumbrance of JSC Qiwi's shares as well as challenge the sale and purchase agreement for these shares and the Moscow Arbitration Court has ruled against the DIA's request to seize the shares as an injunctive measure in the lawsuit.