Smartpay Holdings Limited (ASX: SMP) has reached a binding agreement to sell its New Zealand business and assets to Verifone Inc. for a cash purchase price of NZ$70 million, under certain terms and conditions like-
- NZ Commerce Commission Clearance
- Smartpay Shareholder Approval
- Assignment of Material Contracts
The proceeds generated through the sale will be used to capitalise the Australian business for accelerated growth, settle all banking facilities and provide a cash distribution to shareholders.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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