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Net 1 UEPS Tech To Sell KSNET For About $237 Mln

January 27, 2020 — 06:11 am EST

Written by RTTNews.com for RTTNews->

(RTTNews) - Net 1 UEPS Technologies Inc. (UEPS) said that it agreed to sell South Korea payment processor KSNET Inc. to Stonebridge Capital and Payletter for about $237 million. The transaction is expected to close in March 2020.

FT Partners acted as exclusive financial advisor to Net1 and Yulchon LLC served as legal counsel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
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