Deals
Santander Close to Buying Remainder of Wirecard Operations
- Offer may exceed the 100 million euros set as minimum price
- Purchase would mark end of post-collapse sale process
Photographer: Michaela Handrek-Rehle/Bloomberg
This article is for subscribers only.
Banco Santander SA is closing in on a purchase of Wirecard AG’s core business, according to people familiar with the matter, a move that would mark the final step of the failed German payment processor’s wind down.
The Spanish bank is likely to sign an agreement to acquire the main unit of Wirecard, which includes Wirecard Bank, as well as a few smaller German subsidiaries within the next couple of days, the people said, declining to be identified because the information is private.