French payment processing company Ingenico Group SA entered into exclusive negotiations with Germany's Sparkassen-Finanzgruppe to merge the latter's BS PAYONE GmbH with Ingenico Retail assets in Germany, Austria and Switzerland.
Frankfurt-based BS PAYONE is a payment provider owned by Sparkassen-Finanzgruppe unit Deutscher Sparkassen Verlag GmbH.
The non-cash business combination would be 52% owned and consolidated by Ingenico Group, while BS PAYONE shareholders would maintain minority rights in line with their 48% stake. The parties plan to sign definitive agreements in the third quarter.
