Shares in Paysafe shot to record highs after the announcement of the 590p-a-share offer from the private equity houses Blackstone and CVC, a consortium that has made four approaches for the company since May. Based in the Isle of Man, Paysafe generates around half its business from processing payments for online gambling sites and also operates pre-paid payment cards. For instance, a Danish processing company, Nets, has received offers while the French company Worldline is taking over a Swedish rival. Private equity houses are also interested, not only Blackstone and CVC but also Permira, which is taking a stake in a the Swedish business Klarna. “Private equity firms like Blackstone and CVC Partners recognise that businesses like Paysafe have a stronger value proposition than conventional payment cards.

Source: The Guardian July 21, 2017 13:46 UTC