SYDNEY (XFN-ASIA) - Macquarie Bank Ltd unit Macquarie Payments Infrastructure Holdings Ltd has sold its automated teller machine (ATM) network, ATM Solutions Australasia, to ATM operator Customers Ltd for up to 133 mln aud, Customers said in a statement.
ATM Solutions operates an ATM network predominately in the hotel, club and convenience market. It is one of the largest ATM networks in Australia and comprises some 3,300 ATMs.
Customers chief executive Greg Baker said after the acquisition his company will own one of Australia's largest ATM networks with over 5,000 ATMs.
He said growth in Australia, coupled with a growing presence in Asia and particularly China, means Customers has a positive outlook extending out for three to five years.
Customers will pay the Macquarie unit 125 mln aud in cash and 5.0-7.5 mln aud in Customers shares.
It said a placement at 0.20 aud per share to raise 90 mln aud, combined with a share purchase plan and 40 mln aud of debt, will be used to fund the acquisition.
(1 usd = 1.27 aud)
bruce.hextall@xfn.com
blh/mas