Worldline Sells Its New Zealand Operation to Cuscal for €17M
Worldline completed the sale of its New Zealand payment operations to Cuscal Limited on Friday for an enterprise value of approximately €17M. This transaction is part of the group's strategy to refocus on its European payment operations and optimize resource allocation.
Major Operation Sold to Cuscal
Worldline's payment operation in New Zealand, which handled about 70% of all in-store transactions in the country and served the four major acquirers as well as around forty issuers, has been transferred to Cuscal Limited. This operation represented an estimated revenue of about €35M and an adjusted EBITDA of around €12M for Worldline. The impact on free cash flow (FCF) remains limited. Worldline will continue to provide technological and software services to Cuscal during a transition period to ensure continuity.
Part of the Group's Divestiture Plan
This completion marks another step in the execution of Worldline's strategy to refocus the group on payment activities in Europe and streamline operations. This sale adds to transactions already completed involving Worldline North America, Cetrel, and PaymentIQ. The total arrangements announced (MeTS, Worldline North America, Cetrel, PaymentIQ, Worldline Merchant Services India, Worldline New Zealand, and Worldline Australia) are expected to generate estimated net cash proceeds between €590M and €640M, which will be received in 2026 according to the group. These resources are intended to strengthen Worldline's financial profile, increase its strategic flexibility, and support the redeployment of capital towards the core activity.
