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New Deal


Announced

Tower Capital Asia to acquire a 77.8% stake in AXS from DBS Bank.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For78%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Singapore

payments

Payments / Commerce

Acquisition

Private

Majority

Private Equity

Pending

Friendly

Single Bidder

Domestic

Synopsis

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Tower Capital Asia, an Investment company, agreed to acquire a 77.8% stake in AXS, a payments firm, from DBS Bank, a banking and financial services corporation. Financial terms were not disclosed. “The recent explosion in digital payments globally is providing a formidable tailwind for AXS, an established player, to seek growth via new business segments and markets,” Danny Koh, Tower Capital Asia Founder and CEO.

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