Greensill Capital’s Australian administrators have confirmed their first asset sale just two and a half weeks after the firm declared insolvency, with the UK’s Wagestream striking a deal to buy fintech group Earnd.
As reported by The Australian Financial Review, offers had quickly arrived for Earnd, a wholly-owned subsidiary of Greensill’s Australian parent, after the supply chain finance group became insolvent in the UK and Australia on March 8.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
