By Leonidas Stergiou
The American payment systems company EVO enters the newly established company NBG Pay with 51%, which was created by the spin-off of the payment acceptance branch of the National Bank.
The draft contract for the separation of the sector was approved by the board. of the National Bank, which will participate with the remaining 49%. EVO acquires 51% of the share capital of NBG Pay for a price of 158 million euros, valuing the activity at 310 million. As announced by Ethniki, the transaction brings a capital gain of 60 basis points.
Following the approval of the draft contract by the Board of Directors of NBG Pay, its signing was completed today and will be published in the General Commercial Register, as well as on the EIB website.
According to a statement from the EIB, the completion of the split is subject to the legally required approvals of the General Meetings of the shareholders of the EIB and NBG Pay, as well as the taking of all necessary approvals and decisions by the competent authorities.
It is recalled that Alpha Bank is moving forward with a similar scheme with Nexi, which owns the majority stake. The direct benefit for Alpha Bank is estimated at around 300 million euros, with a positive impact on the capital of the order of 40 basis points. Eurobank has entered into an agreement with another leading company in the industry, Worldline. The agreement provides for the sale of 80% of the card acceptance and clearing unit to Worldline. It also provides for a long-term agreement for the distribution of PayCo products in Greece through the Eurobank network. The agreement values ​​100% of the new joint venture at 320 million euros, while the transaction contributes about 80 bp. in the CET1 index of the Eurobank Group. It was preceded by the sale of Piraeus Bank card systems to Euronet, with a capital gain of 300 million euros.
Source: Capital
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