Redington announced that its step down subsidiary, Arena Bilgisayar Sanayi Ve Ticaret A.S (Arena) has completed the divestment of its wholly owned subsidiary, Paynet Ödeme Hizmetler A.ª (Paynet) to Iyzi Payment and Electronic Money Services Inc on 13 February 2025. Consequently, Paynet has ceased to be a subsidiary of Arena.
The consideration received from such sale is USD 87.00 Million plus net cash of USD 2.29 Million, aggregating to USD 89.29 Million.