Pemba Capital walks away from $40.4 mln Smartpay takeover proposal

Fri, 15 Dec 2017

By Paul McBeth Dec. 15 (BusinessDesk) - Australian investment firm Pemba Capital Partners won't go ahead with plans to buy payment terminal provider Smartpay Holdings for $40.4 million after wrapping up due diligence. The Sydney-based firm put forward an indicative offer of 23.5 cents a share in August and was granted due diligence access last month, but today ended its pursuit of the payments company. The shares dropped 8.7 percent, or 2 cents, to 21 cents. "For Smartpay it is very much business as usual, with no change to our strat...

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