Optimal Payments €1.1 billion acquisition of Skrill Group

Overview:

• Optimal Payments, through subsidiary Netinvest, has acquired the Skrill Group (Sentinel Topco) for €1.1 billion in a cash and shares deal from Sentinel Group Holdings.
• Skrill is a digital payment and e-wallet provider.
• The deal will see Optimal Payments pay €720 million in cash and 37.5 million in shares.
• Sentinel Group Holdings will own 7.9% of the combined company.
• Optimal Payments will undertake a €441 million rights issue to fund the acquisition, Canaccord Genuity, Deutsche Bank and Bank of Montreal are the underwriters. The company will also take out €500 million in new financing from Bank of Montreal, Barclays and Deutsche Bank.

Sam Duke - Editor