Japan’s technology company SoftBank Group Corp (TYO:9984) has announced that it will invest €900 million in Wirecard (ETR:WDI), the German digital payments company.
SoftBank will buy 5-year Wirecard bonds that can convert into an equity stake.
The Japanese company stated that the bonds will convert into a 5.6% stake in Wirecard at a price of €130 a share. Wirecard’s shares were up around 9% to €134 following the announcement.
The two companies have also signed a MoU to support Wirecard’s expansion across Japan and South Korea, while developing digital payments, data and AI.