PayPoint sells Romanian operations to Innova Capital for EUR 55 mln

British payment processor PayPoint has completed the sale of its operations in Romania to the Poland-registered investment fund Innova Capital already active on the local market with an extensive portfolio of projects.

The British company thus left the Romanian market after 13 years of activity.

The transaction was initially announced in October 2020.

Innova paid GBP 48 million (EUR 55.33 mln) to take over PayPoint Services (Romania), Profit.ro reported. The deal was completed a few days after Innova secured a EUR 25 mln financing from the European Bank for Reconstruction and Development (EBRD) and an unspecified local creditor to pay for the acquisition.

"In line with the change of pace in our strategy focused on the UK, we are pleased to have completed the sale of PayPoint Romania. I want to thank the Romanian management team and employees for their contribution to PayPoint in the last 13 years. We believe that Innova Capital is the right owner to take the business forward, and we wish PayPoint Romania and Innova much success for the future," said PayPoint CEO Nick Wiles.

(Photo source: Facebook/PayPoint UK)