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Beeline Kazakhstan, a subsidiary of the Dubai-headquartered digital operator VEON, will acquire online classifieds firm OLX Kazakhstan for $75 million. The Nasdaq-listed VEON, which moved its headquarters to Dubai last year, said the acquisition will further enhance its digital offerings in the Central Asian country.
OLX KZ has approximately 10 million monthly active users and 3.6 million listings, according to VEON.
Beeline Kazakhstan’s acquisition of OLX KZ is subject to regulatory approvals and customary closing conditions.
(Writing by Bindu Rai, editing by Seban Scaria)
