By Sabela Ojea

 

Shares in Wameja Ltd. rose in early trade Thursday after the company said that it has agreed to a 96.9 million-pound ($126 million) takeover by Mastercard Inc. through its subsidiary Burst Acquisition Co. Pty. Ltd.

Accepting Wameja shareholders will get 8 pence a share, a 39% premium to its closing share price of 5.75 pence in London on Wednesday. Wameja shares in London at 0845 GMT were up 1.80 pence, or 31%, at 7.55 pence.

The payment-solutions provider---which is a joint-venture partner with Mastercard Inc. in the Homesend cross-border transfer network--said that the deal is unanimously recommended by the board.

The deal also has the support of Lombard Odier Asset Management (Europe) Ltd. which owns 23.5% of Wameja's issued share capital.

The takeover is conditional upon a number of approvals, including the Australian Foreign Investment Review Board and the National Bank of Belgium.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

September 10, 2020 05:13 ET (09:13 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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