GVC completes disposal of payments arm for €29m
Operator sells Kalixa to international payments company Senjō Group as per its December announcement
GVC Holdings has completed the sale of payments arm Kalixa Group to international payments and investments company Senjō Group in a €29m cash deal.
The transaction, which was first announced in December, was finalised on 31 May after it received the required domestic and international regulatory approvals needed by the Singapore-based acquirer.
The sale does not include the wallet business currently operated by Kalixa Pay, a subsidiary within the Kalixa Group, which following the deal has been closed by GVC.
It will have a neutral effect on the GVC’s EBITDA and Kalixa will continue to provide payment processing services to GVC post-completion under an existing contract.
Since acquiring bwin.party in February 2016, GVC CEO Kenny Alexander has been clear on his plans to dispose of non-core assets.
And commenting on the sale of Kalixa in December, Alexander said: “We are pleased to announce the sale of Kalixa in line with our plans announced earlier in the year.
“Post-sale Kalixa will continue to process payments for GVC and our customers, but now with the opportunity to build a larger payment services business under new ownership which has payments as a core activity.”
GVC’s London-listed share price was up marginally to 807p at the time of writing.