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Dubai: The consortium of Prism Group AG (Prism) and Abu Dhabi’s Royal Strategic Partners (RSP) has appointed independent investment bank Moelis & Company to advise on the restructuring and transformation of the Finablr Ltd and its subsidiaries, the global payment solutions group it agreed to acquire in December 2020. Prism formed a consortium with RSP to complete the purchase of Group at the end of last year - since when the Consortium and Finablr Plc have been working in conjunction with regulators and stakeholders to conclude the formalities of the acquisition. In addition, the consortium has been funding urgent working capital needs to stabilise the business and to preserve value and is seeking to restart operations and develop a business plan for the Group going forward. ....
Background Further to its announcement on 6 October 2020, the Company today announces that it has entered into a definitive agreement with Global Fintech Investments Holding AG ( GFIH ), an affiliate of Prism Group AG ( Prism ) to sell to GFIH the entire issued share capital of Finablr Limited, the Company s wholly owned subsidiary. Finablr Limited owns the entire remainder of the Company s group (the Target Group and the Transaction ). The Transaction will constitute the sale by the Company of its entire business and operations. Prism has formed a consortium with Abu Dhabi s Royal Strategic Partners ( RSP ) in connection with the Transaction, as further described below. ....
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