Diversification/Disinvestment

Redington Limited has announced the completion of the disinvestment of its wholly-owned subsidiary, Paynet Ödeme Hizmetler A.Ş., to Iyzi Payment and Electronic Money Services Inc. The firm received a total consideration of USD 89.29 million from this transaction.

As a result of this divestment, Paynet is no longer a subsidiary of Arena Bilgisayar Sanayi Ve Ticaret A.S., Redington's step-down subsidiary.

This strategic move improves Redington's financial position and allows for potential reinvestment opportunities, likely resulting in a positive outlook for investors as the company focuses on core operations and growth avenues.