BRIEF-Net1 Sells Remaining Stake In Bank Frick

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BRIEF-Net1 Sells Remaining Stake In Bank Frick
Credit: © Reuters.

Feb 5 (Reuters) - Net 1 UEPS Technologies Inc UEPS.O :

* JSE: NT1 - NET1 SELLS REMAINING STAKE IN BANK FRICK

* NET 1 UEPS TECHNOLOGIES INC - SOLD ITS REMAINING INTEREST IN BANK FRICK & CO. AG ("BANK FRICK") BACK TO KUNO FRICK FAMILY FOUNDATION FOR $30 MILLION

* NET 1 UEPS TECHNOLOGIES INC - GROSS PROCEEDS OF $30 MILLION WILL BE REDUCED BY $3.6 MILLION TO TERMINATE VARIOUS AGREEMENTS AND SETTLE LIABILITIES

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