11/16/2020, 11:18 PM (Source: TeleTrader)
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Wirecard to sell European assets to Santander

Banco Santander S.A. announced on Monday that it will acquire the assets of Wirecard AG's European core business. The agreement comes as part of insolvency proceedings after Wirecard was implicated in corporate fraud and subsequently filed for bankruptcy. The deal is expected to be concluded by the end of the year.

Santander added that around 500 of Wirecard's employees will remain in their locations. The Spanish company stressed that "the acquisition does not include Wirecard companies and Santander will not assume any legal liability relating to Wirecard AG and Wirecard Bank AG or its past actions."

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