KUALA LUMPUR: GHL Systems Bhd ‘s wholly owned subsidiary, S Capital Sdn Bhd, is acquiring the entire stake in Paysys (M) Sdn Bhd (PMSB) from Paysys Group Holdings Sdn Bhd (PGHSB) and Rica Holdings (M) Sdn Bhd for RM80 million.
In a filing to Bursa Malaysia, GHL said the purchase will be by cash and issuance of new GHL’s shares at price of RM1.1927 a share.
The issuance of new GHL shares will be done in three tranches from 2018 to 2019.
PMSB is involved in the credit card acquiring business as well as the provision of terminals and payment solutions.
The acquisition is expected to provide an opportunity to GHL Group to solidify its presence as a payment solutions provider in Malaysia.
It is also in line with GHL Group’s strategy to increase its market share in the transaction payment acquisition industry, it said.