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    WDI   DE0007472060

WIRECARD AG

(WDI)
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Wirecard sells assets in Brazil, a first as company winds down

08/21/2020 | 05:52am EDT
FILE PHOTO: The logo of Wirecard AG is pictured at its headquarters in Aschheim

Wirecard inked a deal to sell its operations in Brazil, its insolvency administrator said on Friday, the first asset of global operations to sell after the company collapsed amid an accounting scandal earlier this year.

An agreement in principle has also been reached to sell some operations in Britain, and the process of selling its North American operations are well advanced with a deal expected "shortly", the administrator said.

Wirecard was a rising star in corporate Germany, earning a spot as one of 30 blue chips, but in a dramatic fall from grace, Wirecard filed for insolvency owing creditors 4 billion euros ($4.71 billion) after disclosing a 1.9 billion euro hole in its accounts.

Prosecutors suspect Wirecard executives of masterminding a criminal racket to fake the company's accounts and bilk creditors of billions of euros.

The completion of the sale of Wirecard Brazil was to a subsidiary of PagSeguro Digital. The price was not disclosed.

The preliminary agreement in Britain is to sell Wirecard Card Solutions to Railsbank Technology, the administrator said. Railsbank declined to comment.

"The framework conditions of the Wirecard insolvency proceedings have been, and still are, very difficult," said the administrator, Michael Jaffe.

($1 = 0.8487 euros)

(Reporting by Tom Sims, Alexander Huebner, and Patricia Uhlig; editing by Thomas Seythal and Maria Sheahan)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) -0.11% 6.2479 Delayed Quote.-1.87%
PAGSEGURO DIGITAL LTD. -0.98% 56.76 Delayed Quote.-0.21%
WIRECARD AG 0.34% 0.2351 Delayed Quote.-24.93%
All news about WIRECARD AG
09/09WIRECARD : EY to spend $2bn on improving audits after Wirecard scandal
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09/09WIRECARD : Ernst & Young Plans $2 Billion Investment To Improve Post-Scandal Audits
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09/04WIRECARD : Dax announces raft of additions as German index braces for expansion
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09/03Porsche, Puma to join Germany's DAX as index expands
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09/03WIRECARD : British Adviser Arrested In Singapore Over Forgery Claims
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09/02WIRECARD : British businessman arrested on Wirecard-linked fraud charges
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09/02WIRECARD : Briton charged in Singapore as police probe Wirecard-linked firm
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09/02FACTBOX-Key changes in shake-up of Germany's blue-chip DAX index
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08/27LEIPOLD RECHTSANWALTSKANZLEI : Arrests against Markus Braun (Wirecard AG) and his MB Betei..
DJ
08/18WIRECARD : Auditor Obliged To Testify
AQ
More news
Analyst Recommendations on WIRECARD AG
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Financials
Sales 2019 2 769 M 3 239 M 3 239 M
Net income 2019 524 M 613 M 613 M
Net cash 2019 1 135 M 1 328 M 1 328 M
P/E ratio 2019 0,06x
Yield 2019 105%
Capitalization 28,6 M 33,5 M 33,5 M
EV / Sales 2019 -0,40x
EV / Sales 2020
Nbr of Employees 5 685
Free-Float 97,4%
Chart WIRECARD AG
Duration : Period :
Wirecard AG Technical Analysis Chart | WDI | DE0007472060 | MarketScreener
Income Statement Evolution
Managers and Directors
Thomas Eichelmann Chairman-Supervisory Board
Wulf Matthias Member-Supervisory Board
Stefan Klestil Member-Supervisory Board
Vuyiswa V. MĺCwabeni Member-Supervisory Board
Anastassia Lauterbach Non-Executive Director
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