Veon, Cohen Circle Acquisition sign business combination agreement for Kyivstar

VEON (VEON) and Cohen Circle Acquisition Corp. I (CCIR) announced the signing of a business combination agreement that will result in the listing of JSC Kyivstar, the leading digital operator in Ukraine, on the Nasdaq Stock Market in the United States. Following the completion of the business combination, Kyivstar Group, the parent company of Kyivstar, will be listed on Nasdaq under the ticker symbol KYIV. VEON will own a minimum of 80% of the issued and outstanding equity of Kyivstar Group immediately following the closing of the Business Combination, which is expected to occur in Q3 2025 and is subject to the approval of Cohen Circle’s shareholders and other customary closing conditions. The transaction assigns a pro-forma valuation of $2.21B to Kyivstar at closing.