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Mon 02 Feb 2010Equity firm pays €45m for 69% Payzone stake
PAYZONE, THE Irish electronic payments company, has announced that private equity group Duke Capital will invest €45 million in the company in exchange for a 69 per cent shareholding.
Existing shareholders will see the value of their holdings wiped out as a result of the financial restructuring. Payzone’s banks will also take an equity stake of 16 per cent and seven members of senior management will take 15 per cent.
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