Russell McVeagh has advised Worldline on the divestment of Paymark Limited, Worldline’s New Zealand payments business, to Cuscal Limited, marking a significant transaction in New Zealand’s payments and financial infrastructure sector.
The transaction involves the sale of Worldline’s New Zealand operations, which represent a core part of the country’s electronic payments infrastructure. Cuscal, an Australian payments and data services provider, has entered into an agreement to acquire the business as part of its broader trans‑Tasman growth strategy.
Russell McVeagh acted as New Zealand legal adviser to Worldline, advising on the legal aspects of the divestment process. The Russell McVeagh team was led by corporate advisory partner Hannah Wilson, supported by corporate advisory partner Dan Jones and senior associates Hannah Brown and Rachael O’Malley on the due diligence and transaction process.
Hannah Wilson said, "We were pleased to work with the Worldline team on this transaction. New Zealand’s payments ecosystem is undergoing significant regulatory change, with multiple developments progressing in parallel. Our experience advising on major foreign divestments in this market means we understand the unique deal drivers and regulatory challenges these transactions present, and how to navigate them effectively."