Mastercard to Buy Wameja for $126 Million; Wameja Shares Jump
September 10 2020 - 5:28AM
Dow Jones News
By Sabela Ojea
Shares in Wameja Ltd. rose in early trade Thursday after the
company said that it has agreed to a 96.9 million-pound ($126
million) takeover by Mastercard Inc. through its subsidiary Burst
Acquisition Co. Pty. Ltd.
Accepting Wameja shareholders will get 8 pence a share, a 39%
premium to its closing share price of 5.75 pence in London on
Wednesday. Wameja shares in London at 0845 GMT were up 1.80 pence,
or 31%, at 7.55 pence.
The payment-solutions provider---which is a joint-venture
partner with Mastercard Inc. in the Homesend cross-border transfer
network--said that the deal is unanimously recommended by the
board.
The deal also has the support of Lombard Odier Asset Management
(Europe) Ltd. which owns 23.5% of Wameja's issued share
capital.
The takeover is conditional upon a number of approvals,
including the Australian Foreign Investment Review Board and the
National Bank of Belgium.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
September 10, 2020 05:13 ET (09:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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