Wirecard Administrators Sell More Foreign Units Amid Scandal

Law360, London (April 16, 2021, 4:45 PM BST) -- Wirecard's insolvency manager said on Friday that it has agreed to sell the Asian and Australian operations of the collapsed German payments company in a move to offload more assets after a €1.9 billion ($2.3 billion) hole in its books was uncovered.

Wirecard AG's court-appointed administrator, Munich lawyer Michael Jaffé, said he has reached an agreement on the sale of the company's payment subsidiaries in the Philippines, Malaysia, Thailand and Hong Kong. The subsidiaries will be sold to Nomu Pay Ltd., owned by British and Dutch technology investment firm Finch Capital, for an undisclosed amount of money.

The sale agreement, which was signed on...

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