Afterpay Holdings Ltd (ASX: AFY) has inked an agreement with Trade Me Group Ltd (ASX: TME), under which Afterpay’s exclusive ‘buy now, pay later’ option will be offered on Trade Me’s marketplace. This is said to provide Afterpay a large channel to onboard both New Zealand customers and retailers. Further, the move enables Afterpay’s launch into the New Zealand market which is a first-step in the group’s stride to implement its international expansion strategy post growth of the business and operating foundation established in Australia. For quite some time, Afterpay was looking for a partner who was equally passionate about providing a customer centric product.The collaboration with TME seems to kick off the plan well wherein Trade Me happens to match up with AFY’s retail approach for the New Zealand market. Trade Me has been among the key influential brands in New Zealand (although a little less known in Australia), and has over 4.7 million listings live onsite and over 4.1 million user accounts.

On the merger front with Touchcorp (ASX: TCH), the Federal Court of Australia has approved orders to convene a meeting of AFY’s shareholders to consider and vote on the Scheme of Arrangement, under which all Afterpay shares (other than those held by Touchcorp and its subsidiaries) will be exchanged for new shares in Afterpay Touch Group Limited (ATG) on a 1-for-1 basis. Further, the Supreme Court of Bermuda has approved orders to convene a meeting of Touchcorp’s shareholders to consider and vote on the Scheme of Arrangement, under which all TCH shares will be exchanged for new shares in ATG on the basis of 0.64 ATG shares for each Touchcorp share. Given the recent developments, it might be interesting to wait for the outcomes of the respective shareholders’ meetings.
 

Timetable for Merger (Source: Company Reports)

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