GRG International Limited (ASX:GRG) is selling its Australian ATM business to DC Payments Australasia Pty Ltd for an initial payment of $2 million and a further $2 million payable on renewal and assignment of small number of key contracts.
In addition, DirectCash Payments Inc. (TSX:DCI), the parent of DC, has agreed to enter into a long term distribution agreement to acquire ATMs from GRG for its Australian and international operations.
GRG will focus on its ATM and bank transformation product distribution business in various jurisdictions.
The transaction is subject to shareholder approval; key contracts being renewed or assigned; and the parties entering into a formal agreement.
GRG International Limited (ASX:GRG) is selling its Australian...
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