Following the announcement of December 7, 2021, Eurobank, having received all the necessary approvals, announces the completion of the spin-off of the payment acceptance and transaction settlement branch to Cardlink Payment Institution Anonyme (“Cardlink One”) and the transfer of 80% of Cardlink One’s shares in Worldline, while Eurobank retains 20% of the shares.
The transaction is estimated to contribute approximately 80 bp. in the Eurobank Group CET1 index (based on the first quarter of 2022). The price paid for the 80%, after certain adjustments, amounts to approximately 254 million euros. The transaction contains, subject to conditions, additional payments and fees as well as customary minority protection rights.
As stated in a related announcement, “the transaction includes a long-term commercial agreement with the Worldline group for the distribution of its products in Greece through the Eurobank network. This agreement combines the leading technology and expertise of Worldline with the capabilities of the branch network of Eurobank and aims for Worldline to offer value-added products and services in the field of accepting payment transactions and clearing transactions to Eurobank’s customers and to the market as a whole”.
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