|
|
Pepkor - to acquire stake in Fintech Platform
- Pepkor to combine its Flash business with Shop2Shop to create one of South Africa's preeminent merchant commerce and fintech platforms serving both the formal and informal economy, with annual throughput value exceeding R200 billion.
- The combined business ("FintechCo") will comprise:
o Flash: a leading value-added services ("VAS") distribution network and digital products fintech platform; and
o Shop2Shop: a leading merchant-focused trade enablement fintech platform providing merchants with acquiring, payments, cash management and trade services.
- The Proposed Transaction builds on the long-standing commercial relationship between Flash and Shop2Shop, expanding the reach across the informal market value chain and unlocking meaningful strategic and operational synergies.
- Pepkor will acquire a controlling interest of 57.1% in FintechCo through:
o A cash purchase subscription of R1.57 billion for new shares in Shop2Shop; and
o The contribution of 100% of its shares in Flash, valued at R10.6 billion.
- The total equity valuation of FintechCo implied by the Proposed Transaction, is approximately R21.3 billion.
- The Proposed Transaction is a significant step in Pepkor's strategy to accelerate expansion within its Informal Market Platform segment and will unlock value for
|
|
Click here for original article
|
| |
| |
| Click here for full news archive for this company |
|
| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
| |
|
|
