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News

First Data Acquisition of Cashcard Cleared by Australian Competition and Consumer Commission

Friday 13 February 2004 22:10 CET | News

First Data has revealed that the Australian Competition and Consumer Commission (ACCC) has advised that it will not oppose First Datas proposed acquisition of Cashcard Australia Limited, the leading merchant ATM deployer in the Australian marketplace. In December 2003, First Data entered into a Merger Implementation Agreement to acquire 100 percent of the shares of Cashcard Australia Limited. The transaction remains subject to Australian Federal Court approval followed by Cashcard shareholder approval. First Data expects to close the transaction in the second quarter of 2004. Financial terms of the transaction were not disclosed.

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