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Fintech Group takes control of Xcom

19 October 2016  |  2210 views  |  0 Source: Fintech Group

FinTech Group AG (new WKN: FTG111, new ISIN: DE000FTG1111, Ticker Symbol: FLA.GR) has reached an agreement with significant minority shareholders of its XCOM AG technology subsidiary and ensured that it has options to purchase approximately an additional 18% of the shares.

This means that FinTech Group AG, which already in July 2016 held more than 75% of XCOM's shares, now has access to more than 98% of the voting rights. The options can be exercised during the next 12 months.

Frank Niehage, CEO of FinTech Group AG, states: "As announced, we have again increased our share in XCOM AG. We have thus taken an important further step toward the definitive integration of XCOM AG into our Group. We are pleased to have reached this strategic milestone."

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