Deals17 Apr 2025, 05:07 pm
AGS Transact Technologies Accepts Term Sheet for 90% Stake Sale in Subsidiary Novus Technologies
AI Summary
AGS Transact Technologies Ltd. has announced the acceptance of a non-binding term sheet for the sale of its 90% equity interest in its step-down subsidiary, Novus Technologies Pte. Ltd. The deal is subject to completion of definitive agreements, due diligence, and customary closing conditions. The transaction is in line with the Company’s efforts to reduce debt and improve cash flow. The signing of the term sheet marks a significant milestone in the transaction process, with both parties targeting completion in H1 of 2025.
Key Highlights
- AGS Transact Technologies accepts term sheet for 90% equity interest sale in subsidiary Novus Technologies Pte. Ltd.
- Transaction aims to reduce debt and improve cash flow for the company.
- Deal subject to completion of definitive agreements, due diligence, and customary closing conditions.
- Both parties targeting completion in H1 of 2025.
- AGS Transact Technologies is one of the largest integrated omni-channel payment solutions providers in India.