Currenc Group proposes $666.7 million acquisition of Tranglo
The proposed 100% acquisition follows a reinstated share-purchase agreement and remains subject to definitive documents, regulatory approvals and cooperation from Ripple Markets APAC.
Currenc Group announced October 30 an agreement in principle to pursue the acquisition of 100% of Tranglo Sdn. Bhd. for approximately $666.7 million.
The announcement follows the signed reinstatement of a previous share-purchase agreement, with the longstop date extended to March 31, 2027. Ripple Markets APAC holds a 40% interest in Tranglo, and the proposed transaction requires its cooperation along with regulatory approvals and definitive transaction documents.
Tranglo operates cross-border payment infrastructure connecting remittance providers, banks and digital-payment businesses. A full acquisition would give Currenc ownership ambitions over a network that sits between senders and local payout partners, but the announcement does not establish any change to Tranglo’s day-to-day service or customer access.
The transaction is proposed and may not close. The announced price is an indicative transaction value, not a completed cash outlay, and the parties did not disclose final financing terms, closing conditions beyond those described or expected operating synergies.