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New Deal


Announced

Ant Financial to acquire a minority stake in Wave Money for $73m.

Financials

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Transaction Value£54m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Cross Border

fintech

Single Bidder

mobile financial services

Minority

FinTech

Myanmar

digital payment

Friendly

Private

Pending

Private Equity

Synopsis

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Ant Financial Services Group, a Fintech company, to acquire a minority stake minority stake in Wave Money, a mobile financial services provider for $73m. “Wave Money is excited to announce this partnership and look forward to accelerating our digital journey with the support and expertise from Ant Group. Myanmar is ready for mass adoption of digital payments with a connected population and high smartphone penetration. This partnership will be transformative for Wave Money and Myanmar," Brad Jones, Wave Money CEO.

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