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Investegate |Sebastian Brunner Announcements | Sebastian Brunner: Wirecard subsidiary in Vietnam sold

Further Successful Sale in Asia
Wirecard subsidiary in Vietnam sold
Munich/Aschheim/Seoul, 29 April 2021.
In the insolvency proceeding concerning the assets of Wirecard Sales International Holding GmbH a further successful sale could be achieved after the recent sale of several subsidiaries in the Asia-Pacific region.
Following an international bidding process, Wirecard Singapore Pte. Ltd., the subsidiary of Wirecard Sales International Holding GmbH divests its shareholding in Wirecard (Vietnam) Company Limited to South Korean credit card company BC Card Co., Ltd. The transaction is still subject to certain conditions, in particular, approval by the local merger control authority.
Wirecard (Vietnam) Company Limited has a market-leading position in the field of payment services solutions in Vietnam and is offering its customers one-stop-shop solutions starting from back-end software to front-end hardware. Among the custome ....

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Insolvency Administrator Dr Michael Jaffé: Wirecard Subsidiaries in Australia, Hong Kong, Indonesia, Malaysia, Philippines and Thailand Sold - Significant Progress Made in Sale of Assets

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MUNICH, GERMANY / ASCHHEIM, GERMANY / AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 16, 2021 / In the insolvency proceedings concerning the assets of Wirecard AG and Wirecard Sales International Holding GmbH additional companies of the group have been successfully sold off. Following an extensive international bidding process, agreements have been reached on the sale of several subsidiaries in the Asia-Pacific region.
Insolvency administrator Michael Jaffé secured a sale of the shares in Wirecard e-Money Philippines, Inc., Wirecard Payment Solutions Malaysia Sdn. Bhd., Wirecard (Thailand) Co., Ltd. and Wirecard Payment Solutions Hong Kong Limited to Nomu Pay Ltd, a company owned by British and Dutch Technology Investment Firm Finch Capital following a further investor process. The sales agreement signed this week also covers assets and licences associated with the data warehouse of Wirecard Asia Holding Pte. Ltd. and Wirecard Singapore Pte. Ltd. At least 110 jobs wil ....

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Investegate |Sebastian Brunner Announcements | Sebastian Brunner: Wirecard subsidiaries sold

Investegate |Sebastian Brunner Announcements | Sebastian Brunner: Wirecard subsidiaries sold
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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Wirecard Administrators Sell More Foreign Units Amid Scandal

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Wirecard Administrators Sell More Foreign Units Amid Scandal
Law360, London (April 16, 2021, 4:45 PM BST) Wirecard s insolvency manager said on Friday that it has agreed to sell the Asian and Australian operations of the collapsed German payments company in a move to offload more assets after a €1.9 billion ($2.3 billion) hole in its books was uncovered.
Wirecard AG s court-appointed administrator, Munich lawyer Michael Jaffé, said he has reached an agreement on the sale of the company s payment subsidiaries in the Philippines, Malaysia, Thailand and Hong Kong. The subsidiaries will be sold to Nomu Pay Ltd., owned by British and Dutch technology investment firm Finch Capital, for an undisclosed amount of money. ....

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Wirecard administrator sells off Asia Pacific assets

Wirecard was placed into insolvency in June last year after an independent audit into the company found a €1.9 billion (Dh8.2bn) hole in its accounts, leading to the arrest of many of its key executives.
The company had previously been lauded as a European FinTech star, with its valuation peaking at €24bn in August 2018.
The insolvency administrator has since managed the sale of a number of its business units, with Spanish banking giant Santander acquiring the company’s core European business in January. This allowed about 500 Wirecard staff to transfer to Santander’s Getnet business.
In October last year, the company’s North American assets were sold to payments processor Syncapay, and its Brazilian and Romanian units were also offloaded. ....

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