MoneyHero Group Announces Strategic Partnership With Jirnexu Pte. Ltd, To Enhance Its Long-Term Strategy For The Malaysia Market
Portfolio Pulse from Benzinga Newsdesk
MoneyHero Limited (NASDAQ:MNY) has announced a strategic partnership with Jirnexu Pte. Ltd. to enhance its long-term strategy in the Malaysia market. As part of the deal, MoneyHero's B2C brand CompareHero will be acquired by Jirnexu Sdn. Bhd., while MoneyHero will retain an equity stake in Jirnexu Pte. Ltd. The transaction is expected to close in early July 2024.
June 28, 2024 | 1:03 pm
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MoneyHero Limited has entered into a strategic partnership with Jirnexu Pte. Ltd., selling its CompareHero brand while retaining an equity stake in Jirnexu. This move is aimed at enhancing MoneyHero's long-term strategy in the Malaysia market.
The strategic partnership and sale of CompareHero to Jirnexu Sdn. Bhd. is likely to positively impact MoneyHero's stock in the short term. Retaining an equity stake in Jirnexu Pte. Ltd. indicates a long-term strategic interest in the Malaysian market, which could be seen as a positive move by investors.
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