November 9, 2018 / 6:59 AM / 4 days ago

BRIEF-Sandpiper Digital Payments Sells Majority Of Pair Solutions GmbH

Nov 9 (Reuters) - Sandpiper Digital Payments AG:

* EQS-NEWS: SANDPIPER DIGITAL PAYMENTS AG SELLS MAJORITY OF PAIR SOLUTIONS GMBH

* REDUCING SANDPIPER SHAREHOLDING FROM 100% TO 25%.

* DIVESTMENT OF 75% OF PAIR SOLUTIONS GMBH TO AN EXTERNAL INVESTOR

* CURRENT CEO OF PAIR FRANK STEIGBERGER WILL HAND OVER HIS RESPONSIBILITY

* PURCHASING PRICE WAS AGREED TO REMAIN CONFIDENTIAL

* PAIR WAS CONTRIBUTING APPROXIMATELY EUR 500.000 TO REVENUE OF SANDPIPER IN 2017

* TRANSACTION WILL LEAD TO A LOSS ON STAND ALONE FINANCIAL STATEMENT

* TRANSACTION WILL GENERATE A BOOKING PROFIT OF EUR 700.000 ON CONSOLIDATED ACCOUNTS OF SANDPIPER Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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