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Paysafe scheme of acquisition takes effect

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Paysafe scheme of acquisition takes effect

U.K.-based Paysafe Group Plc said Dec. 20 that the scheme of acquisition through which it is being acquired by funds managed by Blackstone Group LP and funds managed and/or advised by CVC Capital Partners became effective following approval by the High Court of Justice in the Isle of Man.

As a result, the entire issued and to-be-issued ordinary share capital of Paysafe Group is now owned by PI UK Bidco Ltd., a newly formed company jointly owned by the acquirers. Shareholders of record as of 6 p.m. London time Dec. 19 will receive 590 pence in cash for each eligible share held.

Paysafe shares will be delisted from the London Stock Exchange with effect from Dec. 21.

Blackstone and CVC announced the £3 billion takeover in August.