The investment will allow the Munich-based digital payments company to enlarge its operations in Asia. Under the agreement, Wirecard will issue bonds exclusively to an affiliate of Softbank that will convert into 6.92 million Wirecard shares after five years, currently equivalent to around 5.6% of the company, according to Reuters.
Wirecard and Softbank said they had also signed a strategic partnership to collaborate in the area of digital payments.
As part of this, Softbank will help Wirecard expand into Japan and South Korea, and provide opportunities to collaborate with other companies in its portfolio in areas such as data-analytics/AI and innovative digital financial services.
Credit Suisse acted as financial advisers to SoftBank and Sullivan & Cromwell as legal adviser. Noerr and Gibson, Dunn & Crutcher are serving as legal advisers to Wirecard. For more information about Wirecard, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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