on German Startups Group Berlin GmbH & Co. KGaA (isin : DE000A1MMEV4)
SGT German Private Equity Acquires Three Internet Payment Service Providers
SGT German Private Equity GmbH & Co. KGaA (SGF) has acquired majority stakes in three internet payment service providers: Funanga AG, Berlin, Campamocha Ltd., Malta, and Surfer Rosa Ltd., Isle of Man. The transaction involves a cash payment and the transfer of treasury shares valued at 2.40 EUR per share.
This acquisition forms "The Payments Group Holding" and aims for a 140 million EUR transaction volume and 15 million EUR revenue in 2025. The company plans to raise around 8 million EUR by placing treasury shares on the market by the end of 2024.
The acquisition positions SGF as a listed, growing FinTech group with 50 employees and anticipated annual sales growth over 50% from 2021 to 2025. Christoph Gerlinger and Seth Iorio will lead the newly-formed group, aiming for significant value creation.
R. H.
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