Liberty Holding Corp. acquired a 100% stake in the rail and air ticket purchase services Aviata and Chocotravel from the Choco holding company. The purchase is expected to be completed by the end of the year. The total amount of the transaction is $32.3 million, said Nikolai Mezentsev, head of Choco.
According to the main owner of Freedom Holding, Timur Turlov, the purchase will allow the company to attract new clients to his bank, as well as integrate air services with the payment system and insurance companies.
After the sale of the services, the Choco holding will have the resources to pay 100% of the public and private debt, as well as invest in the development of projects that are strategically important for the team, Nikolay Mezentsev added.
- Aviata.kz and Chocotravel.com are train and air ticket booking services in Kazakhstan. In 2018, the companies announced a business combination. After the merger, the total turnover exceeded 100 million dollars The services are considered the most automated agencies in the CIS, according to Amadeus. Nearly 80% of all ticket return operations occur instantly in automated mode.
- Choco Holding is one of the largest IT companies in Kazakhstan. Choco’s portfolio includes delivery services Chocofood.kz, Choco Nearby, Choco Delivery, Chocolife.me coupon, as well as Choco Loyalty and Digital Restaurant, iDoctor.kz.
Author:
karina pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
