Further Successful Sale in Asia
The insolvency administrator of Wirecard Sales International Holding GmbH, Rechtsanwalt Dr Michael Jaffé, has successfully sold another Asian entity.
Following an international bidding process, the Indian subsidiary Wirecard Forex India Private Limited has been sold to NIUM Pte. Ltd., a global payment service provider, specializing in the field of cross-border transfers and card issuance.
Wirecard Forex India Private Limited is a foreign currency exchange, pre-paid card and remittance service provider in India licensed by the Reserve Bank of India as Authorized Category II Money Exchange Dealer. The Company and its nearly 190 employees provides the Indian market with foreign currency exchange and money remittance services. The transaction is still subject to certain conditions, in particular, approval by the local banking control authority.
“Despite the pandemic’s negative effects, including the hard-lock downs in India, we have been able to secure a going concern of Wirecard Forex India’s business and successfully conduct a sales process in the best interest of the creditors.“ summarized insolvency administrator Dr Michael Jaffé today.
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