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Wex Enett Merger Agreement

In Uncategorized on October 14, 2021 at 6:16 am

In addition, at the same time as the closing of the acquisition, weX and the former shareholders of eNett and Optal have agreed to a full and final settlement of the dispute pending in the Uk courts under the previously announced purchase agreement. Britain`s Travelport base was expecting much more cash than it announced its $1.7 billion sale in January. Travelport had a majority stake in eNett, with Optal as the minority owner. But Portland, Maine-based buyer Wex said in May that it was ceding the deal because the pandemic had reduced the value of payment technology providers. Travelport had asked a British court to force Wex to respect its purchase contract. But a judge`s preliminary review of the case in October favored Wex`s opinion on the contract, with an appeal scheduled for May. This press release contains “forward-looking statements” that are intended to qualify for the safe haven benefits of liability set forth in the Private Securities Litigation Reform Act of 1995, including statements regarding: WEX`s acquisition of eNett and Optal (the “Acquisition”), future financial and operating results and all other statements regarding WEX or eNett or expectations, beliefs, goals and future goals of Optal`s management; Plans or perspectives. Any statement that is not a statement of historical fact may be considered a forward-looking statement. The words “may”, “could”, “anticipate”, “plan”, “continue”, “project”, “intend”, “estimate”, “believe”, “expect” and similar expressions used in this press release are intended to identify forward-looking statements, although not all forward-looking statements contain such words. .