TBC Bank Group to acquire a majority stake in OLX Uzbekistan from OLX Group.

TBC Bank Group, a inancial services group, agreed to acquire a majority stake in OLX Uzbekistan, an online classifieds platform, from OLX Group, an online market place. Financial terms were not disclosed. "Our ecosystem counts 21m unique registered users, reaching over half of Uzbekistan's population. We continue to grow rapidly, enabling our customers to handle their financial and lifestyle needs through our seamless interface. The acquisition of the country's leading classifieds platform OLX Uzbekistan is the next logical step in our expansion and diversification strategy, as we add new customers, continue to move into new segments and increase our share of customer attention. This acquisition is set to unlock powerful synergies between our platforms, accelerating our ability to deliver best-in-class digital banking products for existing and new customers. We are proud to partner with Titan Investments for this deal, who are bringing their successful track record of scaling classifieds into the mix. We're delighted to be able to leverage the OLX potential and accelerate its growth and aim to fully consolidate this platform into the TBC Uzbekistan ecosystem in the longer term," Nika Kurdiani, TBC Uzbekistan CEO.