The National Bank has signed a final agreement for the sale of 51% of its card acceptance business with EVO Payments International, as officially announced by the system group.
The sector will be the subject of a new company called NewCo, in which EVO will acquire 51% of the share capital for a price of 158 million euros and the Greek bank will keep 49%.
This means that its total valuation, in the context of the transaction, reaches 310 million euros.
In addition, a long-term exclusive distribution agreement will be signed, under which the National Bank will offer the partner companies the top card acceptance solutions offered by NewCo, based on EVO’s specialized systems and advanced products.
NBG is the fourth group after Piraeus Bank, Eurobank and Alpha Bank to enter into a strategic partnership with an international company in the field of card payments and has a majority stake.
The transaction is expected to increase the proforma of the EIB Category 1 Common Shares Capital Index, as well as the Total Capital Index by approximately 60 basis points with a reference date of 30.09.2021.
Its completion lies in the usual heresies, including the approvals of the competent regulatory authorities, but also the consent of the Financial Stability Fund.
What is EVO?
EVO is a company with a leading position in the provision of payment technologies and services with a presence in over 50 markets worldwide.
It offers a range of innovative, reliable and secure payment solutions to merchants of all sizes, from small and medium-sized enterprises to multinational companies and organizations around the world.
UBS Europe SE acted as the sole financial advisor to the EIB and the law firm Karatza and Associates as assistant legal advisors for the transaction.
In addition, the EIB Board of Directors received an independent opinion from Barclays Bank PLC on the reasonable and fair price offered as well as independent legal advice from Freshfields Bruckhaus Deringer LLP.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
Greek Energy Minister Skylakakis Announces Subsidies to Mitigate Electricity Prices
“When prices exceed a certain threshold, we intervene,” said Skylakakis
Mitsotakis: Greece is a Beacon of Stability in an Unstable World
Greek Prime Minister Kyriakos Mitsotakis described Greece as a "beacon of stability in an unstable world" following the Epiphany water blessing ceremony at Dexameni Square in Athens.
