FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
BERLIN (Reuters) – Japan’s Softbank Group Corp will buy a 5.6 percent stake in German payments company Wirecard by acquiring convertible bonds worth around 900 million euros ($1.01 billion), Wirecard said in a statement on Wednesday.
Wirecard said it shall issue convertible bonds with a term of five years exclusively to Softbank, convertible to 6,923,076 million ordinary shares at 130 euros per Wirecard share.
Reporting by Caroline Copley; Editing by Michelle Martin