21st Feb 2024 10:49
WAG Payment Solutions PLC - Integrated payments platform for the commercial road transportation industry, trading as Eurowag - On Tuesday announced the delivery of a termination notice on a sale and purchase agreement for the acquisition of an 18% stake in JITpay GmbH. JITpay is a Braunschweig, Germany-based payment service provider. In July, Eurowag exercised a call option to acquire the 18% stake for a consideration of EUR25.7 million, having already acquired a 10% stake in September 2022. The deal was expected to close in the first half of 2024. Eurowag says that the termination notice has been issued "on account of certain financial status conditions relating to JITpay not having been satisfied". The company's put and call option over the remaining 72% of JITpay will not come into effect, Eurowag says.
Current stock price: Up 4.7% at 90.00 pence per share in London on Wednesday morning
12-month change: up 14%
By Hugh Cameron, Alliance News reporter
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