PayPoint plc : Announcement of sale of Online Payment businesses <Origin Href="QuoteRef">PAYP.L</Origin>

PayPointAnnouncement

08/01/2016 09:10

PayPoint plc 
 
 Announcement of sale of Online Payment businesses 
 
   
 
 PayPoint is pleased to announce the sale of its Online Payment businesses
comprising PayPoint.net and Metacharge to Capita, for a consideration of £14
million satisfied in cash at completion today. 
 
 Dominic Taylor, PayPoint's Chief Executive, said:  "In line with our
strategy, we are pleased to have agreed the sale of our Online Payment
businesses.  We announced our intention to sell our Mobile and Online
businesses at our full year results last May, in order to focus on
multi-channel payments where we have retail networks, to concentrate on our
best prospects for future growth. We believe that Capita is a good owner to
take these businesses forward and I would like to thank the management and
employees for their contribution to PayPoint and wish them well for the
future.  We will update on the sale of the Mobile Payments business in due
course." 
 
 Deloitte LLP acted as corporate finance adviser and Mills & Reeve LLP as
legal adviser to PayPoint on the sale. 
 


 
 About PayPoint 
 
 PayPoint is an international leader in payment technologies, its solutions
transforming payments for everyone from consumer and financial services
companies to retailers, utilities, media and government clients. 
 
 PayPoint delivers payments and services through its unique combination of
local shops, mobile and online distribution channels, delivered both through
its owned businesses and by integrating the best services from more
specialised suppliers. It handles almost £15 billion from over 839 million
transactions annually. 
 
 With the backing of 24/7 operations centres with dual site processing,
PayPoint is widely recognised for its leadership in payment systems, smart
technology and service. 
 


 
 8 January 2016 
 
   
 
  Enquiries                                                                                                                            
  PayPoint plc (telephone: 01707 600 317) Dominic Taylor George Earle    Finsbury (telephone: 02072 513 801) Rollo Head Andrew Parnis   
   
 
   
 
   
 PayPoint Announcement of sale of Online Payment business 


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 Source: PayPoint plc via Globenewswire 
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