10th Sep 2020 21:28
(Alliance News) - Wameja Ltd on Thursday said it has agreed to a takeover by MasterCard Inc in a deal which value the fintech company at GBP96.9 million.
Mastercard, through Burst Acquisition Co Pty Ltd, will acquire joint-venture partner Wameja at GBP0.08 per share.
Wameja shares closed up 29% at 7.42 pence each in London on Thursday.
Wameja's board has recommended the offer is accepted and shareholders Lombard Odier Asset Management Europe Ltd, who hold just shy of a 24% stake, have backed the deal.
First Sentier Investors (Australia) IM Ltd, who hold a 5.1% interest, have also given the deal the thumbs up.
"In the absence of a superior proposal and subject to the independent expert's report concluding that the scheme is in the best interests of Wameja Limited's shareholders and depository interest holders, the board of Wameja unanimously recommends that Wameja shareholders vote in favour of the scheme," Wameja said.
The two companies currently partner up as part of the HomeSend payment hub programme.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Wameja Di