SUBSCRIBERS

NeraTel to sell payment unit for S$88m

Sale to France's Ingenico will sharpen firm's focus on core business and strengthen balance sheet

Published Fri, May 20, 2016 · 09:50 PM

Singapore

TELECOMMUNICATIONS and information network solutions provider Nera Telecommunications (NeraTel) has agreed to sell its payment solutions unit to French payments giant Ingenico Group for about S$88 million, the mainboard-listed group said in a Singapore Exchange filing on Friday.

It said it expects net proceeds of about S$71.5 million on the disposal, adding that the proposed sale of the enti…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes