Dentons, Sullivan & Cromwell and Kabine Law Office have advised the Doğan Family, as shareholders, on the sale of their shares in Hepsiburada to Kaspi.kz.
The deal is valued at approximately US$1.127 billion and is anticipated to open new avenues for collaboration and growth between SMEs and entrepreneurs in Türkiye and Kazakhstan.
The transaction is subject to regulatory approval and other conditions and is expected to close in 1Q2025.Hepsiburada is a leading retail e-commerce website in Turkiye. It recorded approximately US$4 billion in gross merchandise value in fiscal year 2023 and served close to 12 million active customers and 101 thousand merchants.
Kaspi.kz is Kazakhstan’s most popular mobile app, with 14 million monthly active users in 2023, 9.1 million of whom access their services daily.
Sullivan & Cromwell served as lead counsel on the deal, while Dentons advised on the law of Kazakhstan and Kabine Law Office advised on Turkish law. Partners Gani Ashimkhan and Vassiliy Zenov led Dentons’ legal team, which also included Alexandra Fasakhova and Ivanov Ivan.
