Further Successful Sale in Asia
In the insolvency proceeding concerning the assets of Wirecard Sales International Holding GmbH a further successful sale could be achieved after the recent sale of several subsidiaries in the Asia-Pacific region.
Following an international bidding process, Wirecard Singapore Pte. Ltd., the subsidiary of Wirecard Sales International Holding GmbH divests its shareholding in Wirecard (Vietnam) Company Limited to South Korean credit card company BC Card Co., Ltd. The transaction is still subject to certain conditions, in particular, approval by the local merger control authority.
Wirecard (Vietnam) Company Limited has a market-leading position in the field of payment services solutions in Vietnam and is offering its customers one-stop-shop solutions starting from back-end software to front-end hardware. Among the customers are major state banks as well as numerous financial institutions.
“Despite the challenging circumstances of the international sales processes amidst a pandemic, we succeeded in preserving another Wirecard subsidiary in Asia as going concern and secured the sale of the shareholding in the best interest of the creditors,“ summarized the insolvency administrator Dr Michael Jaffé after the most recent successful sale.
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