FX.co ★ Veon Agrees To Sell 50.1% Stake In Beeline Kyrgystan To CG Cell Technology

Veon Ltd., a worldwide digital operator, revealed its plans on Tuesday to sell its indirect holding of 50.1 percent in Beeline Kyrgyzstan. The entirety of these stakes will be sold to CG Cell Technologies, owned fully by CG Corp Global. The business of Beeline Kyrgyzstan has been valued in this transaction at 3.4x the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) anticipated for 2023. This sale aligns with Veon's objective of simplifying the Group's structure while prioritizing larger markets.