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)

Copyright (c) 2020 Dow Jones & Company, Inc.
Wirecard (XE:WDI)
Historical Stock Chart
Von Jul 2020 bis Aug 2020 Click Here for more Wirecard Charts.
Wirecard (XE:WDI)
Historical Stock Chart
Von Aug 2019 bis Aug 2020 Click Here for more Wirecard Charts.