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FinancialNews


  • 20-08-13

    Investcorp sells Skrill Group

    (MENAFN) Bahrain-based Investcorp announced an agreement to sell Skrill Group to CVC Capital Partners for USD800 million. According to the agreement, Investcorp will keep a seat in Skrill's board in addition to a small position in the company, Saudi Gazette reported. In March 2007, the provider of alternative investment products acquired a controlling stake in Skrill by investing USD33.3 million in the company. "Skrill has been a high-quality investment for Investcorp. We are proud to have supported the management from the beginning of our partnership and happy to have helped them build a strong presence within the online payment and digital wallet platforms worldwide," President for Gulf Business at Investcorp, Mohammed Al-Shroogi, said. Skrill Group provides online payment systems and is one of the world's largest digital wallets catering 36 million accounts. The Skrill Digital Wallet allows account holder to make online payments safely and conveniently.

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