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    GLJ   DE000A161N30


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GRENKE AG: GRENKE sells stake in viafintech GmbH

08/22/2021 | 03:02am EDT

DGAP-News: GRENKE AG / Key word(s): Disposal/Investment
GRENKE AG: GRENKE sells stake in viafintech GmbH

22.08.2021 / 09:00
The issuer is solely responsible for the content of this announcement.

GRENKE sells stake in viafintech GmbH

Baden-Baden, August 22, 2021: GRENKE, global financing partner for small and medium-sized enterprises, today announced the sale of its minority stake of 25.01 percent in the fintech company viafintech GmbH to paysafecard.com Wertkarten GmbH, Vienna (Austria) at a price in the low double-digit million euro range.

The stake was sold by GRENKE BANK AG, a wholly owned subsidiary of GRENKE AG. In addition to GRENKE BANK AG, the majority shareholder GLORY Ltd., headquartered in Himeji (Japan), as well as the three founders of viafintech, are also selling their shares. GRENKE BANK AG had invested in viafintech GmbH in 2015 (at that time operating under the name "Cash Payment Solutions GmbH") and will continue to be involved in the company as its primary payment processor under a long-term cooperation agreement.

The closing of the sale is not expected to take place for several months, primarily because the regulatory approval required for such transactions in accordance with the German Foreign Trade and Payments Ordinance is still outstanding. The completion of the sale will result in an extraordinary increase in GRENKE AG's Consolidated Group net profit within the next couple of months, depending on the closing date.

Dr Sebastian Hirsch, Chief Financial Officer of GRENKE AG, said: "After very careful consideration, and discussion with viafintech's other shareholders, we decided to take advantage of this option to sell our shareholding. Despite this decision, it is important to us to maintain our successful ongoing collaboration with viafintech, as they continue on their growth path - now as part of Paysafe - through the provision of our banking services." Hirsch added: "Furthermore, this sale will strengthen our capital base in a market environment that remains challenging. Our other investments in the fintech companies finux GmbH and Finanzchef24 GmbH are of a strategic nature to us and remain unchanged."

With its digital financial and value-added services, Berlin-based viafintech connects retailers, businesses and consumers. Its payment infrastructure facilitates various services such as cash withdrawals and deposits, bill payments, credit disbursements, cashless payment methods and prepaid solutions. Founded in 2011, the company operates in six European markets under the Barzahlen/viacash brands. viafintech works with roughly 20,000 partner outlets across Europe, which include branches of REWE, Rossmann and dm. The company has more than 500 B2B customers and employs over 90 staff.

For further information, please contact:

GRENKE AG Press contact
Team Investor Relations Stefan Wichmann
Neuer Markt 2 Executive Communications Consulting
76532 Baden-Baden Neuer Markt 2
Phone: +49 7221 5007-204 76532 Baden-Baden
Email: investor@grenke.de Mobile: +49 (0) 171 20 20 300
Website: www.grenke.de Email: presse@grenke.de



The GRENKE Group (GRENKE) is a global financing partner for small and medium-sized companies. As a one-stop shop for customers, GRENKE's products range from flexible small-ticket leasing and demand-driven bank products to convenient factoring. Fast and easy processing and personal contact with customers and partners are at the centre of GRENKE's activities.

Founded in 1978 in Baden-Baden, the Group operates in 33 countries and employs more than 1,800 staff (full-time equivalents) worldwide. GRENKE shares are listed in the SDAX on the Frankfurt Stock Exchange (ISIN DE000A161N30).

22.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: GRENKE AG
Neuer Markt 2
76532 Baden-Baden
Phone: +49 (0)7221 50 07-204
Fax: +49 (0)7221 50 07-4218
E-mail: investor@grenke.de
Internet: www.grenke.de
ISIN: DE000A161N30
WKN: A161N3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1228070

End of News DGAP News Service

1228070  22.08.2021 


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