October 22, 2010

Moneybookers will be sold and rebranded as Skrill

A prominent online payment processor Moneybookers will raise about £200 million by floating on the London Stock Exchange in the next few months. The move comes after its Middle Eastern owner Investcorp last year tried to sell Moneybookers.

The majority stake is owned by the Bahrain-based investment group which acquired the company in 2007 for €105m. According to reports Investcorp hired JPMorgan to manage the sale and was understood to be looking for as much as €400m for the UK-based group but failed to attract a buyer.

The reports also say that as part of the floatation the shareholders, which also include the founders of the company, are considering the rebranding of the group into Skrill, a slang word for money.

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