Red Digital has sold a 60% stake to Movilway S.L.
February 2019 — The private shareholders of Red Digital have sold a 60% stake in the company to Movilway S.L. Financial details have not been disclosed.
Red Digital is a digital processing, distribution and cash collection company. It operates a network of distributors nationwide that provides retailers the possibility of selling digital products such as recharge of virtual cell phones, pins and payment of services, among others, in a cost-effective, easy and safe way. Red Digital has more than 120,000 points of sale and 550 employees.
Movilway, an electronic payment distribution platform and a mobile top-up distributor, provides electronic recharge services and payment systems for prepaid mobile phones. The company addresses the financial necessities of unbanked users. It serves customers through a network of direct points of sale in Latin America and internationally. The company was founded in 2010 and is based in Madrid, Spain. Movilway S.L. operates as a subsidiary of Celistics Holdings S.L.
Our role in the transaction
Oaklins' team in Peru acted as the exclusive financial advisor of the shareholders of Red Digital in the sale of 60% of the shares of the company. The remaining 40% is owned by Telefónica del Perú.
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