Smartpay sells its NZ operations to VeriFone for $70m

Smartpay sells its NZ operations to VeriFone for $70m
Jenny Ruth
Eftpos processor Smartpay Holdings has announced the sale of its New Zealand assets to US-based VeriFone for $70 million at the same time as reporting a $739,000 first-half net loss. Smartpay shares, which had already been rising in recent days, jumped 38.2 percent to 38 cents on the news, giving it a market capitalisation of $65.3 million. The company will use the proceeds of the sale to capitalise its Australian business and repay its bankers. The deal is subject to Commerce Commission clearance, the approval of Smartpay shareholders an...

More Infrastructure

The Great Expectations on Kāinga Ora and KiwiRail
Policy

The Great Expectations on Kāinga Ora and KiwiRail

The Government is continuing to refresh boards and fire up expectations.

Port of Tauranga a 'slow follower' on price hikes
Infrastructure

Port of Tauranga a 'slow follower' on price hikes

Forsyth Barr has upgraded its outlook from 'neutral' to 'outperform'.

Manukau Harbour port study takes its sweet time
Infrastructure

Manukau Harbour port study takes its sweet time

Winston called it ludicrous. Now it's late.

Oliver Lewis 02 Jul 2024