Aquiline explores Clear2Pay stake sale - Reuters

Aquiline explores Clear2Pay stake sale - Reuters

Private equity firm Aquiline is exploring a sale of its stake in Belgian payments vendor Clear2Pay, according to a report from Reuters.

Citing "two people familiar with the sitution", the newswire says Aquiline has yet to hire a bank to oversee the sale, which could value the company at around EUR400 million.

Founded in 2001, Clear2Pay raised EUR50 million in an investment round led by the New York private equity firm in 2009, from the sale of shares previously held by Belgian VC, GIMV. The transaction gave Aquiline joint control of the company with its management.

Clear2Pay has since gone from strength-to-strength, winning a number of Tier 1 banking deals for its Open Payments Framework as EU banks have streamlined and remodelled their back office operations to comply with new rules governing payments in the eurozone.

In a statement responding to the report, Clear2Pay CEO and chairman Michel Akkermans, says: "Clarity is a guiding principle in our company, and as such we care to reply to this statement to position quite clearly to our clients, staff, analysts, media and other stakeholders in our industry where we stand on this matter.

"Aquiline is one of the private equity/venture capital investors in our company and we have enjoyed a very fruitful and excellent working relationship since December 2009. Professional investors do invest and sell their stakes at chosen times; this is what they are supposed to do. However this does not mean that the company as a whole will be sold. We are in the midst of a very active year and we, and our 1,200 staff globally, focus on building the company out further and selling the company is not part of that".

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