Smartpay Holdings Enters Binding Agreement to Sell Its New Zealand Business and Assets

  • Nov 28, 2019 AEDT
  • Team Kalkine

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.

 

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