Annual General Meeting of SGT German Private Equity paves the way for the renaming into The Payments Group Holding and the acquisition of three internet payment service providers

EQS-News: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Takeover/AGM/EGM Annual General Meeting of SGT German Private Equity paves the way for the renaming into The Payments Group Holding and the acquisition of three internet payment service providers 16.08.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. +++ Press release +++

Annual General Meeting of SGT German Private Equity paves the way for the renaming into The Payments Group Holding and the acquisition of three internet payment service providers
 

• Clear majority in favour of the transformative reverse listing transaction
• 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 three internet payment service providers are profitable and show strong growth
• The new group plans a transaction volume of 140 million EUR in 2025 and a revenue of some 15 million EUR

 

Frankfurt/Main, 16 August 2024 – The Annual General Meeting of SGT German Private Equity ("SGF"), founded in 2012 and 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, paves the way for the acquisition of majority stakes in Funanga AG, Berlin, Campamocha Ltd., Malta, and Surfer Rosa Ltd., Isle of Man.

The three companies offer internet payment services and work successfully together.

At the Annual General Meeting, at the request of Christoph Gerlinger, CEO, and founder of the company, it was decided to change the company's name to “The Payments Group Holding GmbH & Co. KGaA”.  All proposed resolutions received clear majorities, mostly close to 100% of the votes represented. The AGM presentation is available on the company website.

Through the transaction, a listed FinTech group based in Germany with around 50 employees will be created. The transaction payment volume, which means the settled payment volume, planned for 2025 on a consolidated basis, is around 140 million EUR, the planned net revenue for 2025 is around 15 million EUR. A few years ago, managers of the three target companies founded a very successful international internet payment services company with a transaction volume of over 1 billion USD.