Mergers & Acquisitions ·
Currenc reinstates Tranglo acquisition agreement, extends closing to March 2027 for $666.7M
CURRCurrenc Group Inc.
Currenc Group Inc.'s subsidiary Seamless Group and New Margin Holding Limited have signed a binding reinstatement letter for their January 2026 share purchase agreement regarding Tranglo Sdn. Bhd., extending the longstop date to March 31, 2027. The parties agreed in principle to expand the transaction from a 60% stake to a full 100% acquisition of Tranglo for aggregate consideration of US$666,666,666.67. This enlargement requires a separate tripartite agreement with Ripple Markets APAC Pte. Ltd., which holds tag-along rights and is subject to a charging order over Seamless's shares related to an unsatisfied judgment debt. The transaction remains contingent on regulatory approvals, license renewals, and funding demonstrations by December 2026 and February 2027 respectively. Currenc Group Inc. operates in the fintech sector, providing artificial intelligence solutions to financial institutions.