Kyivstar buys Uklon for $155.2 million: deal details

Today, Kyivstar JSC signed an agreement to acquire Uklon group (“Uklon”), the leading Ukrainian platform for ordering rides and delivery. After the closing of the deal, Kyivstar will acquire 97% of Uklon’s shares for a total amount of $155.2 million, UNN reports with reference to VEON.

Details

Uklon operates in 27 cities of Ukraine and unites more than 100,000 partner drivers on the platform. Last year, the company made more than 100 million trips and more than 3 million deliveries. In 2023, Uklon entered the delivery business and further expanded its operations.

“Kyivstar’s investment in Uklon is more than an exciting business expansion – it is a statement of confidence in Ukraine’s digital growth potential. Uklon joins VEON’s digital products, which serve 120 million active users monthly in 5 countries. We look forward to exploring the possibility of expanding Uklon’s capabilities beyond Ukraine and Uzbekistan with the support of our digital operators in Kazakhstan, Pakistan and Bangladesh,” said Kaan Terzioglu, CEO of VEON Group and Chairman of the Supervisory Board of Kyivstar.

Uklon CEO Serhiy Hryshkov is expected to remain in his position and continue to develop the company’s products and services in Ukraine and other regions.

Earlier, UNN wrote that on February 6, the Antimonopoly Committee of Ukraine decided to grant permission to Kyivstar PJSC to acquire control over UKLON LTD and limited liability companies Tekh Uklon, Uklon Corporate and Uklon Ukraine.