Kyivstar's Strategic Move: Acquiring a Stake in Comfy
The largest Ukrainian mobile operator, "Kyivstar", aims to invest in Comfy, a well-known electronics and household appliances retail chain.
According to Forbes Ukraine, the deal is nearing completion and could be announced as early as next week.
Kyivstar is pursuing a strategy to transform into a digital services provider, which includes developing marketplaces and synergy with other assets.
Industry experts believe the agreement between Kyivstar and Comfy may have been settled earlier this year. An investment banker confirmed that an announcement is expected next week.
The Antimonopoly Committee has stated that as of December 30, it had not received any applications from Kyivstar regarding acquisitions.
Comfy's press service has neither confirmed nor denied the deal, but mentioned they are analyzing investment opportunities to enhance their business.
It appears that the company does not intend to sell its controlling stake, but a potential agreement involves purchasing about 10% of shares.
Comfy's valuation could exceed $300 million, with three respondents indicating the retail price might range between 4-7 EBITDA.
According to a former manager, the overall value of Comfy could be between $300 and $350 million, considering the market and supplier contracts.
Previously, Kyivstar significantly increased its capitalization after listing on the Nasdaq stock exchange, despite challenges posed by the ongoing war.
Additionally, Kyivstar is considering investing in GigaCloud, the largest Ukrainian cloud solutions provider, aiming to acquire 80% of its shares.
In the first half of 2025, Kyivstar reported a 36.1% increase in revenue compared to the previous year.
