Wirecard's Insolvency Administrator Sees Investor Interest for Assets
01 Juli 2020 - 11:06AM
Dow Jones News
By Kim Richters
Wirecard AG has received interest from investors for its assets
and the company's creditor committee agreed to start the sales
process, its insolvency administrator said late Tuesday.
"A large number of investors from all over the world have
already contacted us, who are interested in acquiring the core
business or independent business divisions that operate
successfully on the market," said Michael Jaffe in a statement.
German electronic-payments company Wirecard filed for insolvency
proceedings in June after disclosing a more-than $2 billion
accounting hole.
"The most urgent goal in the preliminary insolvency proceedings
is to stabilize the business operations of the group's
subsidiaries," Mr. Jaffe said on Tuesday, adding that it couldn't
be ruled out that Wirecard subsidiaries had to file for insolvency
as well.
Wirecard Bank AG continues to be solvent and payouts to
merchants and customers are carried out without restrictions, Mr.
Jaffe said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
July 01, 2020 04:51 ET (08:51 GMT)
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