Skrine represented Euronet Services Malaysia Sdn Bhd, a subsidiary of NASDAQ-listed Euronet Worldwide (“Euronet”), a global financial technology solutions and payments provider, in acquiring about 800 Malaysian Electronic Payment System (“MEPS”) ATM terminals of Payments Network Malaysia Sdn Bhd ("PayNet"), the national payments network and central financial infrastructure for Malaysia. This strategic acquisition positions Euronet as the largest non-bank operator of ATM terminals in Malaysia, enhancing its Ren payments platform with the integration of the nationwide MEPS ATM network.
 
The acquisition of the MEPS ATM terminals aligns with Euronet's global ATM asset acquisition program and expands its independent ATM deployer (IAD) network. This move supports Euronet’s goal to strengthen its presence in the Asia Pacific market and enhances its global payments network, which includes over 53,000 ATMs and 713,000 EFT POS terminals across 67 countries.
 
Our firm advised on the preparation, negotiation and finalisation of the Sale of Business Agreement. The Skrine team was led by Partner Tan Shi Wen, supported by Associates Lee Li Zhu, and Victoria Low Fui Lin.
 
Further details of the transaction are available by accessing the links below:
 
https://fintechnews.my/44458/payments-remittance-malaysia/euronet-meps-paynet/
 
https://finance.yahoo.com/news/euronet-eeft-expands-atm-network-182500767.html
 
https://themalaysianreserve.com/2024/05/31/euronet-acquires-800-atm-terminals-from-paynet/