Wirecard Card Solutions reaches agreement in principle with Railsbank Technology to sell certain assets - FinanceFeeds

Wirecard Card Solutions reaches agreement in principle with Railsbank Technology to sell certain assets

Maria Nikolova

In addition, an agreement on the sale of Wirecard Brazil has now been signed.

The first results regarding the sale of assets of Wirecard AG have been achieved.

In this regard, an agreement on the sale of Wirecard Brazil has now been signed. Pursuant to the signed agreement, 100 percent of the shares of Wirecard Brazil shall be acquired by a subsidiary of PagSeguro Digital Ltd., a company listed on the New York Stock Exchange. The transaction is still subject to, among others, the approval of the Brazilian regulatory authorities.

The sales process for the subsidiary Wirecard North America Inc. is also well advanced. The final acquisition offers are expected shortly.

The English subsidiary of Wirecard AG, Wirecard Card Solutions Ltd., has also reached an agreement in principle with Railsbank Technology Limited to sell certain customer relationships and other assets. Wirecard Card Solutions is active in the field of prepaid cards and electronic payment transactions.

For the core business of Wirecard AG, the so-called acquiring and issuing business, negotiations with potential investors are now entering the next phase.

“There are several notable interested parties who have submitted indicative offers,” explained the preliminary insolvency administrator Dr. jur. Michael Jaffé of the law firm JAFFÉ Rechtsanwälte Insolvenzverwalter.

The liquidation processes for the other Wirecard affiliates worldwide are also making progress.

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