Actis To Pay $95M For South African ATM Owner Paycorp

Law360, New York (August 7, 2013, 5:30 PM EDT) -- U.K. private equity house Actis LLP has agreed to acquire South African automated teller machine owner and operator Paycorp from Transaction Capital Ltd. for $95 million, Actis and Transaction announced Wednesday.

The London-based firm will pick up the largest ATM company on the African continent, it said. Paycorp operates nearly 5,000 ATMs across southern Africa, including more than 4,000 in South Africa, owning and managing bank-branded machines across the entire value chain.

The deal, which is subject to approval by Transaction shareholders, financing banks and South...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.