First Results in the process to sell participations of WDSI in the interest of the creditors

Investors show strong interest in Romanian, Indonesian and Vietnamese subsidiaries

8. September 2020
  • Sales processes for other Asian subsidiaries to start soon

After the opening of insolvency proceedings over the estate of Wirecard Sales International Holding GmbH the insolvency administrator appointed by the Munich Insolvency Court, Dr Michael Jaffé further pursued the restructuring and sale of the international subsidiaries of Wirecard group held by Wirecard Sales International Holding GmbH.

Several investors are competing in the auction process for the acquisition of all shares in Wirecard Romania SA. The insolvency administrator expects final bids next week.

Strong interest is also shown by potential investors in PT Wirecard Technologies Indonesia, PT Prima Vista Solusi (both Jakarta, Indonesia) and Wirecard (Vietnam) Company Limited. The insolvency administrator has already received several indicative bids for these companies. Further sales processes regarding the Asian subsidiaries of Wirecard Sales International Holding GmbH will start soon.

In this context the insolvency administrator has appointed a Chief Restructuring Officer with Wirecard Asia Holding Pte. Ltd. and Wirecard Singapore Pte. Ltd. in order to lead the restructuring and sales efforts in Singapore, pending approval of the Monetary Authority of Singapore and the Ministry of Manpower.

“We are glad to see that there is interest in the market for the subsidiaries of WDSI. Therefore, we will continue our sales efforts in the best interest for WDSI’s creditors”, said the insolvency administrator Dr Michael Jaffé.

Press contact for the insolvency administrator
Sebastian Brunner
Tel.: +49175/5604673