Paysafe's Stock Payout Greenlighted Ahead of This Week’s Delisting
- Each Paysafe shareholder is entitled to receive 590 pence in cash per share this Wednesday.
The takeover process of Paysafe (LON:PAYS) by Pi UK Bidco Limited has earned regulatory approval from two jurisdictions today. In particular, Paysafe has received a court sanction from both the Financial Services Commission of Mauritius and the High Court of Justice in the Isle of Man over its acquisition. The announcement takes place ahead of Paysafe’s formal delisting on the London Stock Exchange (LSE).
Discover credible partners and premium clients in China's leading event!
This past August, online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term group Paysafe was acquired by Pi UK Bidco Limited, a newly incorporated company jointly owned and managed by Blackstone and private investing consulting firm CVC. The group reached an all-cash settlement to acquire Paysafe following months of speculation and bidding during July.
Following the takeover, each Paysafe shareholder is entitled to receive 590 pence in cash per Paysafe share under the terms of the acquisition this week. In addition, the buyout value of the combined issued and to-be-issued ordinary share capital was pegged at roughly £2.96 billion ($3.96 billion).
The Financial Services Commission of Mauritius formally approved the takeover last week on Friday December 15, with the High Court of Justice in the Isle of Man also sanctioning the investor payout scheme today.
The process had been proceeding as planned however ahead of its eventual delisting Thursday December 21, 2017. The full shareholder payout scheme will take effect this week on Wednesday December 20 – shares of Paysafe did close down slightly today, trading roughly unchanged at 588.85 pence by the end of UK trading.
Critically, Paysafe is regulated in the UK, with the deal ultimately sparking fears of further opportunistic bids to take over UK payments venues. This has not proved to be the case over the past few months, though continued merger and acquisition activity leading up to the formal March 2019 Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term could bear notice.
The takeover process of Paysafe (LON:PAYS) by Pi UK Bidco Limited has earned regulatory approval from two jurisdictions today. In particular, Paysafe has received a court sanction from both the Financial Services Commission of Mauritius and the High Court of Justice in the Isle of Man over its acquisition. The announcement takes place ahead of Paysafe’s formal delisting on the London Stock Exchange (LSE).
Discover credible partners and premium clients in China's leading event!
This past August, online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term group Paysafe was acquired by Pi UK Bidco Limited, a newly incorporated company jointly owned and managed by Blackstone and private investing consulting firm CVC. The group reached an all-cash settlement to acquire Paysafe following months of speculation and bidding during July.
Following the takeover, each Paysafe shareholder is entitled to receive 590 pence in cash per Paysafe share under the terms of the acquisition this week. In addition, the buyout value of the combined issued and to-be-issued ordinary share capital was pegged at roughly £2.96 billion ($3.96 billion).
The Financial Services Commission of Mauritius formally approved the takeover last week on Friday December 15, with the High Court of Justice in the Isle of Man also sanctioning the investor payout scheme today.
The process had been proceeding as planned however ahead of its eventual delisting Thursday December 21, 2017. The full shareholder payout scheme will take effect this week on Wednesday December 20 – shares of Paysafe did close down slightly today, trading roughly unchanged at 588.85 pence by the end of UK trading.
Critically, Paysafe is regulated in the UK, with the deal ultimately sparking fears of further opportunistic bids to take over UK payments venues. This has not proved to be the case over the past few months, though continued merger and acquisition activity leading up to the formal March 2019 Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term could bear notice.