Consumer
Klarna to Offload Checkout Business in $520 Million Deal
- Unit created conflicts of interest with rivals Stripe, Adyen
- Serial entrepreneur Kamjar Hajabdolahi to take over business
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Klarna Bank AB is looking to get out of one of its key payments businesses after the financial technology giant found the unit created a conflict of interest with peers like Adyen NV or Stripe Inc.
An investor consortium led by the serial entrepreneur Kamjar Hajabdolahi has agreed to acquire the Checkout business in a deal that values the unit at 5.4 billion kronor ($520 million), according to documents obtained by Bloomberg News.