Redington Limited Completes Disinvestment of Paynet for $89.29 Million

Chennai, February 14, 2025 – Redington Limited (NSE: REDINGTON, BSE: 532805) has announced the successful completion of the divestment of its step-down subsidiary, Paynet Ödeme Hizmetler A.Ş ("Paynet"), to Iyzi Payment and Electronic Money Services Inc. The transaction was completed on February 13, 2025, marking a strategic exit from the subsidiary.

Transaction Details​

• The total consideration for the sale amounts to USD 89.29 million, comprising:
  • USD 87.00 million as a base consideration.
  • USD 2.29 million in net cash adjustments.

This disinvestment follows Redington’s previous announcements on May 7, 2024, and February 7, 2025, regarding the proposed sale of Paynet, a wholly owned subsidiary of Arena Bilgisayar Sanayi Ve Ticaret A.Ş ("Arena"), which itself is a step-down subsidiary of Redington.

Strategic Impact​

With this sale, Paynet is no longer a subsidiary of Arena, enabling Redington to streamline its portfolio and reallocate resources for future strategic growth.