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
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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.
Tel.: +49 (0)89-4424-1424
Bloomberg: WDI GY
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Company: Wirecard AG
85609 Aschheim b. München
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
Indices: TecDAX, Prime All Share, Technology All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
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