By Leonidas Stergiou
After months of negotiations, the major shareholders of Viva Wallet come to an agreement with the American banking giant JPMorgan, which has included in its strategy the expansion to neobanks in the USA and Europe.
The agreement in principle provides for the acquisition of the shares of three shareholders of Viva Wallet for 1.2 billion euros, according to well-informed sources. With this amount, the shares held by Hedosophia (27%), the interest fund Latsi (13%) and Deca (7%) will be bought from JPMorgan. This is 47% of Viva Wallet, as the remaining 53%, as well as the management, remain with the co-founders Mr. Ch. Karoni and M. Antipa.
It is recalled that Viva Wallet had prepared a share capital increase of 150 million euros for last October, which did not go ahead and was transferred to January. Eventually, the share capital increases did not materialize, as, after a brief interruption of negotiations with JPMorgan, the two sides began talks and it became clear that the chance of a deal was high.
After the signing of the preliminary agreement, the relevant announcements and approvals are expected from the competent European and Greek authorities in order to proceed to the next stages until the completion of the deal.
Collaboration with IRIS of Jupiter
Viva Wallet Holdings holds a Greek banking license (VIVABANK SA) and an electronic money institution license in the EU. and in the United Kingdom, which is to be integrated into the pan-European direct debit system, ie the so-called IRIS of Jupiter Interbank Systems.
Viva Wallet is the first European Neobank to have a full Microsoft Azure cloud infrastructure with branches in 23 countries in Europe with over 600 employees. It provides services in 19 different languages and payments in 10 currencies and is an official member of Visa and MasterCard for acquiring and issuing services. In Greece, it also operates with Viva Bank, which, according to information, provides businesses of all sizes with payment acceptance services through the innovative Viva Wallet POS application, the add-on Google Play devices and through the advanced payment gateway in online stores. . It also offers business accounts with a local IBAN and a Mastercard business debit card.
Source From: Capital