SoftBank to pick up 5.6% stake in payments firm Wirecard for $1b

Two Wirecard AG branded red cubes rest between computer cables in this arranged photograph at the Wirecard headquarters in Munich, Germany, on Wednesday, Sept. 5, 2018. Photographer: Matthias Doering/Bloomberg

Japan’s SoftBank Group Corp will buy a 5.6 percent stake in German payments company Wirecard by acquiring convertible bonds worth around 900 million euros ($1.01 billion), Wirecard said in a statement on Wednesday.

Under the investment, Wirecard said it shall issue convertible bonds with a term of five years exclusively to an affiliate of SoftBank, convertible to 6,923,076 million ordinary shares at 130 euros per Wirecard share.

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