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January 16, 2019

Wellmont Capital Group Acquires European EMI Business

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January 16, 2019

Amsterdam, The Netherlands

 

Wellmont Capital Group N.V. has entered into an agreement to acquire Scandic Assets Limited, a UK based firm in the process of obtaining an E-Money Institution license. The company currently holds a third party coverage allowing it to commence operations immediately, but once the full license has been set in place it may, in turn, offer a wider range of services.

The company is acquired for newly issued shares in Wellmont Capital Group N.V. at a total value of €6,800,000 and the transaction will close immediately.

“This acquisition of Scandic Assets provides one of several important regulatory building blocks for Wellmont Capital”, says Anthony Norman, CEO of Wellmont Capital Group. “We expect the additional acquisition to add to the structure but with this first one in place we can commence client operations”.

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