Multinational sports betting and gaming group GVC Holdings has agreed to sell its payments processing business, Kalixa, to Senjo Group for a total consideration of €29.0 million payable in cash on completion, subject to a completion accounts adjustment.

The total consideration receivable by GVC is capped at €35.5 million.

Completion of the transaction is subject to a number of domestic and international regulatory approvals and is expected to occur during the first quarter of 2017.