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Moneygate plans MBO

Moneygate Group has confirmed that it has secured new funding in a bid to buy out investment partners, MGT Capital Investments.

Moneygate says it has strengthened its position after MGT underwent a restructuring programme that has seen the firm take on new investment and make some changes to its US board.

Moneygate CEO Lee Hartley said: “While we enjoy a great relationship with MGT we are also eager to ensure as much value as possible is retained by the drivers of the business.

“We have had several approaches over the last few months from financiers both inside and outside of the industry – I am delighted to say that we now have the capital in place which allows us to leverage our position and deliver on several M&A projects that we have in play.”

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