Putin Approves Sale of Western Union's Russian Unit to Softex
Russian President Vladimir Putin approved for the company 'Softex' to purchase 100% of shares in the Russian subsidiary of Western Union (NPO 'Western Union DP Vostok').
Consensus
- Putin approved the purchase of 100% of shares in NKO 'Western Union DP Vostok' by Softex.
- The acquisition was authorized via a presidential decree published on September 28.
- Western Union suspended operations in Russia and Belarus on March 10, 2022.
- NKO 'Western Union DP Vostok' was removed from the Central Bank's registry of payment system operators on March 24, 2022.
- After being removed from the registry, the company continued providing services to partner banks and post offices in CIS countries (excluding Belarus) until October 2022.
- The company's net loss under RSB standards in 2025 amounted to 301.5 million rubles.
Points of divergence
- The acquisition was approved due to 'unfriendly actions by some foreign states and international organizations.' — kommersant
- Western Union had already decided to stop domestic money transfers in Russia as of April 1, 2022, due to low demand. — vedomosti
- On the same day as the decree, Putin transferred Russian assets of Metro Cash & Carry to temporary management by 'UK Torg RUS,' and appointed 'L.E.V. Management' as the sole representative for 'Nestle Russia.' — vm
- The text of the decree does not specify which of several registered 'Softex' companies is the buyer, though the largest one is based in Kaliningrad and specializes in AI and RPA technologies for financial institutions. — interfax
Coverage (5 sources)
- Putin allowed sale of Russian subsidiary Western Union to company "Softex" — Коммерсантъ
- Putin allowed 'Softex' to buy former daughter of Western Union — Ведомости
- Putin allowed LLC "Softex" to acquire Russian subsidiary of Western Union — Вечерняя Москва
- Putin approved deal for sale of Russian "subsidiary" Western Union — Вести
- Putin approved deal for sale of Russian "subsidiary" Western Union — Интерфакс
Key entities
- Western Union
- Russia
- Softex
- Vladimir Putin
- Western Union DP East
- OOO Softex
- Belarus
- NGO
- OOO
- INTERFAX.RU
- Ukraine
- Western Union Moscow
- Western Union Moscow