Good news for shareholders in PayPoint (PAY) as the payment services specialist has finally managed to offload its mobile payments business, comprising the following brands: PayByPhone Technologies Inc, PayByPhone, Mobile Payment Services SAS and Adaptis Solutions. Volkswagen Financial Services paid £26.5m in cash to complete the deal.
A special dividend of the gross sale proceeds, which amounts to 38.9p per share, will be paid on 11 January 2017 – the shares will go ex-dividend on 5 January 2017.
The deal marks the completion of the restructuring measures set out in May 2015 and it follows on from the sale of PayPoint’s online payments business early in 2016. It also comes on the heels of an agreement between PayPoint and Yodel which will open up the Collect+ network to other carriers.
