AIB forms joint venture with First Data to acquire Payzone

Friday 19 April 2019 10:01 CET | News

AIB Group (AIB) has formed a new joint venture with First Data, the Joint Venture, to acquire 95.9% of Payzone, an Ireland-based payments business.

The Joint Venture, which will be 75% owned by AIB and 25% owned by First Data, will acquire the ownership interest in Payzone from existing shareholders including Carlyle Cardinal Ireland Fund for an enterprise value of up to EUR 100 million.

Payzone is specialised is payment services that facilitate consumer payments by cash, card, and card-not-present for every day consumer needs.

Completion of the Joint Venture and the acquisition is conditional on the satisfaction of customary conditions including competition clearance. Arma Partners, the independent M&A advisory company focused exclusively on the Communications, Media and Technology sector acted as the exclusive financial advisor to CCI.

For more information about First Data, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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Keywords: AIB, First Data, Payzone, card, cash, Ireland, Arma Partners
Countries: World