Eurowag exercised its call option to acquire an additional 18.01% stake in JITpay™ GmbH
W.A.G payment solutions plc ("Eurowag" or "Group"), a leading pan-European integrated payments and mobility platform focused on the commercial road transportation ("CRT") industry, today announces it has exercised its call option to acquire an additional 18.01% stake in JITpay™ GmbH ("JITpay"), a Germany-based payment service provider specialised in digitalising billing, receivables management and financing for the logistics industry. Eurowag entered a strategic partnership with JITpay on 27 September 2022, when it acquired a 9.99% stake for an initial consideration of €14.3 million, of which €3.5 million was used as primary capital. As per the original agreement, Eurowag had a call option to acquire an additional 18.01% share, which could be exercised by 3 July 2023 for a consideration of €25.7 million, of which €6.5 million will be used as primary capital.