Ant Group close to buying MultiSafepay in about $200 million deal-sources

FILE PHOTO: A logo of Ant Group is pictured at the headquarters of Ant Group, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. REUTERS/Aly Song/File Photo

LONDON (Reuters) - Ant Group is closing in on a deal to buy Dutch payments firm MultiSafepay as part of the Chinese financial technology group’s latest push into Western payment markets, people familiar with the matter told Reuters.

The transaction, which is subject to regulatory approval, is expected to value MultiSafepay at around $200 million, one of the people said. It generates $50 million in revenue, the person added, speaking on condition of anonymity.