ReutersNov 17, 2020 03:15:08 IST
FRANKFURT (Reuters) – Wirecard’s
“Banco Santander will purchase the know-how platform of the cost service supplier in Europe in addition to all extremely specialised technological property,” Jaffe mentioned in a press release.
In a separate assertion, Banco Santander mentioned it had agreed to amass a number of extremely specialised technological property from the service provider funds enterprise of Wirecard in Europe, to speed up its development plans in Europe.
The acquisition doesn’t embrace Wirecard firms and Santander won’t assume any authorized legal responsibility regarding Wirecard AG and Wirecard Financial institution AG or its previous actions, Santander mentioned.
The deal is predicted to be accomplished by the tip of the yr and is topic to sure situations, together with regulatory approvals.
Round 500 Wirecard workers will be a part of Santander, the Spanish lender mentioned.
Most workers at the moment managing the acquired property will turn into a part of Santander’s world service provider companies crew. This additionally applies to nearly all of workers of Wirecard Financial institution AG.
A supply conversant in the matter mentioned Santander had agreed to pay round 100 million euros for these property.
At present, investor processes are nonetheless underway for the sale of different Wirecard subsidiaries in Asia, South Africa and Turkey, Jaffe mentioned, including that property from subsidiaries in Brazil, Romania and North America have already been bought.
Outcomes are anticipated throughout the subsequent weeks, Jaffe mentioned.
(Reporting by Edward Taylor in Frankfurt and Jesus Aguado in Madrid; Modifying by Leslie Adler and Sonya Hepinstall)
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