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DCI - Directcash Payments Inc News Story

C$19 0.0  0.1%

Last Trade - 09/01/17

Sector
Industrials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £163.8m
Position in Universe th / 2713

Cardtronics to buy DirectCash Payments in $460 mln deal

Mon 3rd October, 2016 2:58pm
Oct 3 (Reuters) - Cardtronics Plc  CATM.O , which describes 
itself as the world's biggest operator of non-bank ATMs, said on 
Monday it would buy independent Canadian ATM owner DirectCash 
Payments Inc  DCI.TO  (DCPayments) in a deal valued at about 
$460 million including debt to boost its presence in Canada and 
the United Kingdom. 
    Cardtronics said it would pay C$19 per share for 
Calgary-based DCPayments, a premium of 48 percent to DCPayments' 
close on Friday. The stock was trading around the offer price on 
Monday. 
    The deal, which includes debt of about $53 million, is 
expected to be immediately accretive to adjusted net income per 
share, UK-domiciled Cardtronics said.  urn:newsml:reuters.com:*:nGNXNHGRQa 
    DCPayments has about 25,000 ATMs around the world, primarily 
in Australia, Canada and the United Kingdom. 
    The combined companies would have about 225,000 ATMs in 
North America, Europe and the Asia Pacific, the companies said. 
    The deal, which is expected to close early in the first 
quarter of 2017, includes DCPayments' recent acquisition of 
3,500 ATMs in Australia from First Data Corp  FDC.N . 
    RBC Capital Markets LLC was Cardtronics' financial adviser 
and Baker & McKenzie was its legal counsel. BMO Capital Markets 
advised DCPayments, while Bennett Jones was its legal adviser. 
 
 (Reporting by Nikhil Subba in Bengaluru; Editing by Ted Kerr) 
 ((Nikhil.Subba@thomsonreuters.com; within U.S. +1 646 223 4992, 
outside U.S. +91 806 749 4992; Reuters Messaging: 
Nikhil.Subba.thomsonreuters.com@reuters.net)) 
 
Keywords: DIRECTCASHPAYMENTS M&A/CARDTRONICS
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