Intraco (SGX:I06) agreed to acquire an addiitonal 60.1% stake in payment firm, SlideSG, according to a Friday filing with the Singapore Exchange.
The acquisition will be satisfied through an SG$3 million exchangeable loan facility to iAPPS, the majority shareholder of SlideSG.
Concurrently, SlideSG has agreed to acquire the entire iChange Debit Card business from multicurrency digital wallet and payments platform IBV.
The completion of the acquisition is subject to customary closing conditions, including regulatory approvals.