Visa to buy Visa Europe in deal worth up to 21.2 billion euros
- 9 years ago
Visa Inc said on Monday it would buy former subsidiary Visa Europe Ltd in a deal valued at up to 21.2 billion euros , putting the company in a stronger position to compete with MasterCard Inc .
Visa, the world's largest credit and debit card company, said it would pay 16.5 billion euros up front, with potential for an additional payment of up to 4.7 billion euros based on revenue targets four years after the close of the deal.
Visa Inc and Visa Europe, a cooperative of European banks with over 500 million cards, were part of a global bank-owned network until 2007.
Visa, the world's largest credit and debit card company, said it would pay 16.5 billion euros up front, with potential for an additional payment of up to 4.7 billion euros based on revenue targets four years after the close of the deal.
Visa Inc and Visa Europe, a cooperative of European banks with over 500 million cards, were part of a global bank-owned network until 2007.