Deutsche Bank withdrew from Wirecard deal


Deutsche Bank AG is released.

Bloomberg News reported that the global investment bank and the Frankfurt, Germany-based financial services company were no longer interested in purchasing Wirecard AG’s banking unit because it is too expensive, a source says. .

Michael Jaffé, the receiver of the bankrupt German payment company, is asking for a minimum of 100 million euros ($ 119 million) to close the deal and prefers not to seek liquidation, sources at the service said. Press.

Last week, Jaffé rejected Deutsche Bank’s offer because it was too low, Bloomberg reported.

A spokesperson for Deutsche Bank declined to comment.

Also last week, Wirecard Card Solutions Ltd. has announced plans to sell its UK business to Railsbank, the London-based FinTech. The deal came more than two months after the disgraced German payments company filed for bankruptcy. The deal includes the company’s card technology, its customers and its assets. Financial terms were not disclosed.

“Railsbank has a proven production track record of managing over 50 card programs in the UK, EU, US and Singapore and has all of the operational and license infrastructure to support it.” Wirecard said in a statement Friday, Aug. 28.

The company has also agreed to sell its Brazilian business to Sao Paulo-based PagSeguro Digital, one of the country’s largest mobile payment-based e-commerce companies.

The sales come after Wirecard filed for bankruptcy in June. The company admitted that 1.9 billion euros ($ 2.1 billion) that were allegedly deposited in two Philippine banks did not exist.

“It is particularly gratifying that the sale of Wirecard Brazil was the first successful asset sale, as the framework conditions for Wirecard’s insolvency proceedings have been and still are very difficult,” Jaffé said in a statement.



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