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Visa approved by European Commission to acquire Visa Europe

Tuesday 7 June 2016 09:24 CET | News

The European Commission has approved the acquisition of Visa Europe by Visa.

The transaction is set to close in Visa’s Q3 2016, bankingtech.com reports. The acquisition was announced in 2015 and was estimated at EUR 21.2 billion.

Some UK banks that have stakes in Visa Europe are going to receive extra profits. Barclays is expected to gain around GBP 400 million, Lloyds will see GBP 300 million, RBS – GBP 200 million and HSBC – GBP 150 million.

Visa Europe’s largest acquirer, Worldpay, could amass EUR 1.25 billion.


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Keywords: Visa, Visa Europe, European Commission, banks, WorldPay
Categories: Payments & Commerce
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Countries: World
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