Finablr Signs Definitive Agreement with GFIH to Sell its Share Capital

Finablr PLC, a global platform for payments and foreign exchange solutions, announced on Thursday that it has signed a definitive agreement with Global Fintech Investments Holding AG ("GFIH"), an affiliate of Prism Group AG ("Prism") to sell to GFIH the entire issued share capital of its wholly owned subsidiary Finablr Limited.

The completion of the Transaction is subject to customary conditions, including the receipt of certain regulatory approvals.

In return for the transfer of Finablr Limited to GFIH, in addition to the nominal initial consideration of US$1 payable, GFIH is providing working capital support to Finablr Limited to enable it to continue to operate and to support various stakeholders in the company, including employees and creditors. 

In addition, GFIH will undertake to support and facilitate Finablr PLC's continued efforts to recover funds from third parties in respect of possible historic wrongdoing within Finablr Limited. In this regard, subject to certain conditions, GFIH have agreed that GFIH shall pay to Finablr PLC, by way of additional consideration, a further amount equal to 25 per cent of any such funds received by Finablr Limited from third parties, up to a maximum of US$190,000,000. GFIH has also agreed certain provisions with Finablr PLC relating to the coordination of efforts to investigate possible historic wrong doing within Finablr Limited.