Payment card issuer Retail Decisions has signed an agreement for the sale of its Australian fuel and prepaid card businesses to Wright Express Corporation for $353 million, subject to FIRB approval.
Due to be completed at the end of August, the transaction consists of the sale of two businesses, including
ReD Fuel, Australia's largest multi-branded fuel card issuer with 270,000 cards in circulation, and ReD Prepaid, the market leading processor of prepaid cards in Australia with approximately 60 per cent market share.
Maddocks' Jonathan Ambler is advising Retail Decisions on the transaction, while a Mallesons Stephen Jaques team comprising Rob Hanley, Jonathan Wood, Joshua Cole, James McCarthy and Hal Bolitho is acting for Wright Express Corporation.
Like this story? Read more: