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Paymark sale transaction closes

Contributor:
Fuseworks Media
Fuseworks Media

The sale of Paymark Limited by ANZ, ASB, BNZ and Westpac NZ to Ingenico Group (www.ingenico.com) has now been completed.

ANZ, ASB, BNZ and Westpac NZ had each owned 25% of the shares in Paymark. The shareholders said they believed Ingenico would be a very good owner for Paymark as it is a specialist in the payments business internationally and will be able to bring a high degree of technical skill and innovation to what has become an increasingly complex and creative industry.

The transaction was announced in early 2018, and has since been approved by the Commerce Commission and the Overseas Investment Office.

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