Paysafe Accepts Blackstone Takeover Terms

Sat, Aug 12, 2017

Digital payments business Paysafe's board of directors has agreed to 2.96-billion-pound takeover bid from Blackstone and CVC Capital Partners. The company secured an agreement on the 590p per share offer that was proposed by the private equity firms in July.

Digital payments business Paysafe’s board of directors has agreed to 2.96-billion-pound takeover bid from Blackstone and CVC Capital Partners.

The company announced it had secured an agreement on the 590p per share offer that was proposed by the private equity firms in July. The deal would value the company at a premium of around 34pc to the average share price in the six months before the offer.

The acquisition gives Blackstone and CVC exposure to the online gambling and gaming sectors through PaySafe’s digital wallet product, according to a report in Britain’s Daily Telegraph.

The firm had turned down bids from a group of investors including Blackstone and CVC since early May, before considering the 590p offer last month, the report said.

**GGBNews.com is part of the Clarion Events Group of companies (Clarion). We take your privacy seriously. By registering for this newsletter we wish to use your information on the basis of our legitimate interests to keep in contact with you about other relevant events, products and services which may be of interest to you. We will only ever use the information we collect or receive about you in accordance with our Privacy Policy. You may manage your preferences or unsubscribe at any time using the link in our emails.