Prepaid mobile top-up service provider e-pay Asia (ASX:EPY) has called off plans to sell its operating subsidiaries to Centurion Portfolio.
e-pay Asia had intended to sell the subsidiaries for $7 million exclusive of debt, combined wit a return of capital to shareholders of 15 cents per share.
But in negotiations, the companies have been unable to agree on the terms and conditions of any sale agreement.
The heads of agreement the negotiations had been conducted under has now lapsed, and the sale will not proceed, e-pay Asia said.
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