Insolvency administrator Dr Michael Jaffé

Wirecard subsidiaries in Australia, Hong Kong, Indonesia, Malaysia, Philippines and Thailand sold - Significant progress made in sale of assets

DGAP-Media / 16.04.2021 / 07:45 Press Release Lawyer Dr Michael Jaffé Insolvency administrator of Wirecard AG, Aschheim Insolvency administrator of Wirecard Sales International Holding GmbH

Significant progress made in sale of assets

Wirecard subsidiaries in Australia, Hong Kong, Indonesia, Malaysia, Philippines and Thailand sold

Munich/Aschheim/Amsterdam, 16 April 2021. In the insolvency proceedings concerning the assets of Wirecard AG and Wirecard Sales International Holding GmbH additional companies of the group have been successfully sold off. Following an extensive international bidding process, agreements have been reached on the sale of several subsidiaries in the Asia-Pacific region.

Insolvency administrator Michael Jaffé secured a sale of the shares in Wirecard e-Money Philippines, Inc., Wirecard Payment Solutions Malaysia Sdn. Bhd., Wirecard (Thailand) Co., Ltd. and Wirecard Payment Solutions Hong Kong Limited to Nomu Pay Ltd, a company owned by British and Dutch Technology Investment Firm Finch Capital following a further investor process. The sales agreement signed this week also covers assets and licences associated with the data warehouse of Wirecard Asia Holding Pte. Ltd. and Wirecard Singapore Pte. Ltd. At least 110 jobs will be retained at the various sites in Asia as a result. The transaction is still partly subject to approval by local banking regulators. The creditors committee of Wirecard AG has already approved the transaction.

The companies sold provide financial institutions and regional merchants with a range of payment processing solutions. These also include the Merchant & Acquiring business and licences for accessing the major payment card networks. Wirecard Payment Solutions Hong Kong Limited provides acquiring services for merchants in the digital and mobility, consumer goods retail and tourism sectors. Wirecard e-Money Philippines, lnc. opens up both online channels (e-commerce) and offline channels (POS terminals) for payment processing to merchants. It also holds a licence for issuing electronic money (EMI).