Freedom Holding Corp acquires Aviata, Chocotravel service platforms
ALMATY. KAZINFORM - Freedom Holding Corp. (Nasdaq: FRHC), a diversified multi-national financial services firm, has entered into an agreement to acquire the Aviata and Сhocotravel service platforms from Chocofamily Holding LLP, the company announced today. The acquisition, which is subject to certain conditions, is expected to close before the end of the year.
Aviata/Chocotravel is one of the largest online travel agencies in Kazakhstan. The purchase price is $32.3 million.
«We are building a full-fledged ecosystem of digital services for our clients, so the acquisition of Aviata and Chocotravel digital service platforms is a logical contribution to our group’s development,» said Timur Turlov, Freedom CEO. «This integration will allow us to interact with more than one million air travelers in Kazakhstan, who are an economically active category of the population. Through efficient communications with current customers of these service platforms, Freedom will be able to achieve significant synergies in attracting new customers to our banking platform and to integrate the Aviata and Chocotravel services into the payment system and insurance companies of our group.»
Freedom noted that there is a positive trend in air and rail travel in Kazakhstan, both for domestic and international destinations. During 2022, airlines in Kazakhstan flew 11 million passengers, a record number for the country, which is 17% higher than 2021.