The Payments Group Holds Back on TPG Acquisition

The Payments Group Holding (PGH), based in Frankfurt, updates on its potential acquisition of a majority stake in The Payments Group (TPG). Initially announced in November 2025, negotiations regarding the acquisition terms have yet to yield an agreement. Changes in TPG's economic parameters and elimination of a cash component have complicated the deal. PGH management sees a majority stake acquisition as unlikely, focusing instead on acquiring minority stakes, which would minimally impact PGH economically.

If the acquisition falters, PGH will retain its treasury shares and forego their placement to finance the deal. In a strategic pivot, PGH is concentrating on existing assets and new business opportunities revealed in December 2025, including a planned renaming of the company. Key assets include a 35% stake in AuctionTech and financial claims against SGT Capital Group, with a projected net asset value of 1.50 euros per share, surpassing the current share price.