Wirecard sells assets in Brazil, UK

Friday, 21. August 2020 13:55

Online payment-based e-commerce firm PagSeguro announced on Friday it signed a binding agreement to acquire scandal-hit Wirecard's Brazilian unit Wirecard Brazil. The financial details of the deal were not disclosed.

Meanwhile, United Kingdom media confirmed Railsbank intends to buy Wirecard's British business Wirecard Card Solutions (WCS).

In June, Wirecard filed for insolvency amid an accounting scandal over a missing €1.9 billion and fraud charges against its top executives. The company is set to exit the DAX on Monday after German regulators adopted new rules which require insolvent firms to be removed from the index.

Related Links: Wirecard AG
Breaking the News / NP