Worldline to acquire SIX Payments Services for USD 2.75 billion

The French company said its acquisition of SIX Payment Services would largely involve an issue of shares along with a cash component of  EUR 0.28 billion (USD 333.59 million). This gives SIX Payment Services an enterprise value of EUR 2.30 billion euros.

Worldline said the deal would result in SIX Payment Services ending up with a 27% stake in the French company, while Atos would retain its majority 51% in Worldline.

“Through this merger, our company with its intact financial firepower and its unrivalled size in our continent, will be better positioned than ever to continue its strategic endeavor to build, in the heart of Europe, a new global leader of the payment industry,” Worldline Chief Executive Gilles Grapinet said in a statement.

SIX Group says its unit, which helps process payments and provides debit and credit card terminals to retailers, restaurants and hotels, is the market leader in Switzerland, Austria and Luxembourg.

Worldline said it expected the takeover, which is due to close in the last quarter of 2018, to boost earnings and result in cost savings.

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