Wirecard: South Africa subsidiary goes to Adumo

The sell-off at the insolvent Wirecard continues: Insolvency administrator Michael Jaffé reports the sale of the South African subsidiary to the payment service provider Adumo RF Pty Ltd. â € œDespite the challenging circumstances of the insolvency proceedings and the worldwide restrictions due to the COVID 19 pandemic, we were able to maintain business operations at Wirecard South Africa and utilize the investment with a very good result for the creditors, â € said Jaffà ©.

No information was given on Thursday about the financial details of the transaction. As from the previous sales, the proceeds shouldn’t bring any changes to the situation of the shareholders of the insolvent company from Aschheim near Munich – the total loss is pending. The Wirecard share was listed on the stock exchange late in the morning at EUR 0.43, which means that Wirecard continues to have a market value of more than EUR 53 million.

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With Hans-Werner Sinn, President a.D. of the Ifo Institute: Corona and the miraculous increase in money in Europe
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