The Wirecard insolvency administrator Michael Jaffé has initiated the sale process for the core business of the ailing Dax group. For the so-called Acquiring and Issuing business of the payment service provider, as well as the independent business units of the group companies have discovered in the meantime already more than 100 interested parties. The Jaffé announced on Tuesday, following a meeting of the provisional creditors ' Committee of the Wirecard AG.
economic correspondent in Munich.F. A. Z.
The potential investors can obtain information after signing a confidentiality agreement in the virtual Data room and the Due Diligence will begin. The aim is "to find time investors solutions in the interest of the creditors, employees and customers," it said.
most of the activities for the American society Wirecard North America are more advanced Jaffé, according to. Here, the investment Bank, Moelis & Company is mandated with the monitoring of the sale.
Wirecard has logged in two weeks ago bankruptcy after a balance-sheet gap of 1.9 billion euros was to become known. In the long queue of creditors 15 banks that have granted the Munich-based financial group, alone, with a credit line of 1.75 billion Euro, among others. Wirecard had exhausted this line of credit to 90 percent.Updated Date: 07 July 2020, 11:20