Worldline in talks to sell non-payments unit
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Worldline says it is considering divesting some assets as part of a "strategic refocus". In June, the firm's share price cratered after multiple media outlets alleged that it had covered up client fraud to protect revenue.
The carve-out would cover the Mobility & e-Transactional Services (MeTS) business line as well as some digital banking operations that mostly operate outside of the core payments work. This so called MeTS Perimeter accounted for about €450 million in turnover in 2024 and includes 3800 employees, mainly located in France, UK, Spain, Germany, Austria, Belgium and India.
Magellan Partners has made a binding offer with an upfront enterprise value of €400 million plus an additional contingent consideration of €10 million based on the 2025 operating performance.
Worldline says a deal would help it simplify operations and focus on core payment activities for merchants and financial institutions.
Pierre-Antoine Vacheron, CEO, Worldline, says: 'We are embarking on a pivotal transformative chapter for Worldline that goes through increased focus on our core activities. The contemplated transaction is a first step in this journey and affirms our strategic confidence in our payments expertise while empowering MeTS to accelerate its digital transformation as an independent leader."
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