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Australia's Afterpay buys Spanish firm to expand into Europe

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A K Pranav Reuters
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Credit: REUTERS/STEPHEN COATES

Buy-now-pay-later (BNPL) firm Afterpay Ltd announced the acquisition of Spain-based peer Pagantis on Monday as it looks to expand its operations to Europe.

Aug 24 (Reuters) - Buy-now-pay-later (BNPL) firm Afterpay Ltd APT.AX announced the acquisition of Spain-based peer Pagantis on Monday as it looks to expand its operations to Europe.

Australia's biggest BNPL company said its unit Clearpay (Europe) entered an agreement to buy Pagantis from NBQ Corporate SLU for a minimum consideration of 50 million euros ($58.99 million).

($1 = 0.8476 euros)

(Reporting by A K Pranav in Bengaluru; Editing by Himani Sarkar)

((Pranav.AK@thomsonreuters.com; Twitter: @AKPranav1; +918061823270;))

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