SGT German Private Equity acquires three internet payment service providers and becomes a listed, strongly growing and profitable FinTech company

EQS-News: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Takeover/Change in Forecast SGT German Private Equity acquires three internet payment service providers and becomes a listed, strongly growing and profitable FinTech company 13.08.2024 / 13:48 CET/CEST The issuer is solely responsible for the content of this announcement. +++ Press release +++

SGT German Private Equity acquires three internet payment service providers
and becomes a listed, strongly growing and profitable FinTech company

 

• Acquisition of majority shareholdings for cash and transfer of treasury shares at a valuation of 2.40 EUR per SGT German Private Equity share
• The new group plans a transaction volume of 140 million EUR in 2025 and a revenue of some 15 million EUR
• Renaming into "The Payments Group Holding"
• Placement of treasury shares on the market with a volume of around 8 million EUR planned until end of 2024

 

Frankfurt/Main, 13 August 2024 – Founded in 2012, SGT German Private Equity ("SGF"), formerly German Startups Group ("GSG"), previously a private equity asset manager based in Frankfurt/Main and formerly a leading venture capital investor in Germany based in Berlin, seizes an attractive acquisition opportunity. It acquires majority stakes in Funanga AG, Berlin, Campamocha Ltd., Malta, and Surfer Rosa Ltd., Isle of Man. The acquisition is subject to various conditions, including the approval of the Financial Regulator in Malta, MFSA.

The three companies offer internet payment services and work successfully together. There are overlaps between the companies in terms of management and shareholders. The Gerlinger & Partner GmbH of the CEO and Founder of SGF, Christoph Gerlinger, will submit a counter-proposal at the Annual General Meeting of SGF on 14 August 2024, in connection with the transaction, to change the company's name to "The Payments Group Holding" instead of "German AI Group".