Ozon agrees to buy 100% of Oney Bank from Sovcombank

MOSCOW, Apr 13 (PRIME) -- Russian marketplace Ozon has signed an agreement to acquire 100% of Oney Bank from Sovcombank for no more than U.S. $10 million, the retailer said on Tuesday in a statement.

“The deal will be closed if approved by the central bank,” the statement read.

Ozon said the purchase will help it develop new products for its fintech division faster.

The total amount of the deal will be below $10 million and will depend on the value of Oney Bank’s assets as of the date of the transaction’s closure.

Sovcombank bought 100% of Oney Bank in 2020 without disclosing the sum of the deal.

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