eNett, Travelport and Optal Respond to WEX’s Attempt to Walk Away from its Binding Agreement

May 7, 2020 – LONDON and LANGLEY, England

eNett International (Jersey) Limited, Travelport Limited and Optal Limited issued the following statement today responding to WEX’s statement that eNett and Optal have suffered a Material Adverse Effect in their businesses due to the COVID-19 pandemic. eNett, Travelport and Optal reject WEX’s attempt to walk away from its binding agreement.

The Purchase Agreement, which was executed on January 24, 2020, after COVID-19 had already publicly begun its spread across the globe, expressly excludes the effects of a pandemic from the definition of Material Adverse Effect. In addition, the definition of Material Adverse Effect also excludes the effects of any changes in laws or regulations, such as governmental travel restrictions. WEX therefore assumed all of these risks when it signed the Purchase Agreement.

eNett, Travelport and Optal intend to vigorously enforce their contractual rights and to hold WEX to its promises under the Purchase Agreement. eNett, Travelport and Optal expect WEX to perform its contractual obligations, including to finalize its financing, obtain the remaining governmental approvals, and close the transaction.

eNett and Optal remain dedicated to maintaining the same high standard of service their customers have come to expect of them.


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Dana Gorman / James Isola

Abernathy MacGregor / Maitland /

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Bradley Eccleshare
Chief Marketing Officer

M +44 0 7525 929198
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About Optal Ltd

Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, Optal helps companies boost profitability across a growing number of sectors around the world.

Optal issues Mastercard branded payment products, driving its focus on developing and bringing to market, game-changing payment solutions. Optal’s working capital solution, Invapay, turns underutilised credit lines into a dynamic resource to manage cashflow.

“Invapay” and “Invapay solution” means Invapay Payment Solutions Limited, a private limited company in England and Wales, authorised and regulated as an Authorised Payment Institution by the Financial Conduct Authority under the Payment Services Regulations 2017 which is a wholly-owned subsidiary of Optal Limited.

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