The transaction is in line with the company’s efforts to reduce debt and improve cash flow. | Photo credit: Thitima Uthaibom
AGS Transact Technologies said it has accepted a non -binding term sheet for the sale of its participation in 90 percent capital in its reduced international subsidiary, Novus Technologies PTE. Ltd. The agreement is subject to the end of definitive agreements, due diligence and usual closing conditions.
“In line with the company’s efforts to reduce debt and improve cash flow. The signature of the term sheet brand a significant milestone in the transaction process, with both parties aimed at the end of H1 of 2025,” he said, without revealing is online. The signature of the term sheet marks a significant milestone.
Fight for survival
This is the first important sale announced by AGS Transact after breaching debt obligations earlier this year. Business line He had reported earlier this month that Ags Transact Technologies is in conversations to sell a majority participation in his Digital Payment Subsidiary India Transact Services (ITSL) to the Patanjali group, citing Fuentes. AGS is also looking to sell its vertical business ‘ATM’ business to India 1 Payments, according to the report. India 1 is an automatic white label operator, promised by Banktech Group Pty Ltd and Bti Payments Singapore Pte Ltd. The conversations between the two parties, however, have not yet reached an advanced stage.
In February, Crisil’s qualifications degraded AGS Transaccan ₹ 900 million rupees in the Bank Loan Center A ‘D’ or garbage, since it delayed the payment of their loan.
Due to interactions with the management of AGS, Crisil Ratings said he believes that the company’s liquidity has deteriorated sharply in the last 2-3 months due to the delay in the collection of collection, since AGS could not comply with the agents of service level. Despite a repeated follow -up with AGS for more details, Crisil said that any detail on AGS’s deficiencies has not yet resorted to fulfill its SLA. Banks, who used AGS ATM services, also transferred their commercial contracts to other players such as Hitachi and CMS.
Posted on April 23, 2025
