- Proposed transaction will unlock shareholder value and streamline Nera’s business activities
- Nera expected to record a disposal gain of approximately S$71.5 million upon closing, a significant portion of which is intended to be paid out to shareholders
- Shareholders to vote on the proposed sale at an Extraordinary General Meeting expected to be held in Q3 2016
Nera Telecommunications (Nera) today announced the proposed sale of its payment solutions business to Ingenico Group S.A. (“Ingenico”) for S$88 million. Ingenico, with the world’s largest payment acceptance network, is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels (in-store, online and mobile).
Nera has entered into a conditional share sale agreement with Ingenico which will result in the sale of the Company’s entire payment solutions business across Singapore, Malaysia, Thailand, the Philippines, Indonesia and Vietnam.
Nera expects to record a disposal gain ......