Eurocash inks initial deal to take over payment firm PayUp
February 13, 2014
Wholesaler Eurocash signed an initial binding deal to purchase 51% in payment terminal system operator PayUp from Dutch-based Alverca, Eurocash said in a market filing.
Eurocash currently holds 49% in PayUp Polska.
The deal is subject to antitrust authorities approval.
PayUp operates 4,900 POS terminals. In 2013, PayUp recorded external sales (outside Eurocash group) of PLN 100 million, with EBITDA at PLN 1.2 million.