05.11.2015

Wirecard AG: Expected proceeds of approximately EUR 100 million in total from sale of Visa Europe Limited to Visa Inc.


Wirecard AG  / Key word(s): Miscellaneous

05.11.2015 13:54

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Wirecard Bank AG, a wholly owned subsidiary of Wirecard AG, with its seat in Aschheim, Germany, expects proceeds as a shareholder and member of Visa Europe in connection with the proposed acquisition by Visa Inc. amounting to approx. EUR 100 million in total.

Visa Inc. has announced on Monday 2 November 2015 its proposed acquisition of Visa Europe Limited, subject to regulatory approvals. If this transaction is completed Wirecard Bank AG will as a shareholder and member of Visa Europe Limited be entitled to a certain consideration. The consideration consist of an upfront consideration receivable on completion comprising cash and preferred stock convertible into Visa Inc. class A common stock as well as of a potentially additional deferred cash consideration payable following the fourth anniversary of closing subject to an earn-out mechanism. The preferred stock and earn-out elements of the consideration are contingent upon certain factors. Wirecard Bank AG has today received additional information from Visa Europe Limited based on which Wirecard AG currently estimates the total value of the consideration receivable by Wirecard Bank AG to amount to approx. EUR 100 million in total. The figures specified for the consideration are, however, approximate and based on current estimates, since Wirecard AG has not yet all relevant information to calculate the consideration. The actual amounts received by the Wirecard Bank AG may therefore differ.
Contact:
Iris Stöckl 
VP Corp.Com./IR 
Tel.: +49 (0)89-4424-1424
e-Mail: iris.stoeckl@wirecard.com
http://www.wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY


05.11.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

 
Language:     English
Company:      Wirecard AG
              Einsteinring 35
              85609 Aschheim b. München
              Germany
Phone:        +49 (0)89-4424 1400
Fax:          +49 (0)89-4424 1500
E-mail:       ir@wirecard.com
Internet:     www.wirecard.com
ISIN:         DE0007472060
WKN:          747206
Indices: TecDAX, Prime All Share, Technology All Share Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,               Stuttgart
 
End of Announcement DGAP News-Service  



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