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EU: Commission approves Visa Inc.’s €16.5bn acquisition of Visa Europe

By  |  June 5, 2016

European officials have approved Visa’s plan to re-merge with its sister company, removing the final regulatory hurdle to the multi-billion euro deal.

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    The decision means Visa can take over Visa Europe, paying €16.5bn up front and potentially adding another €4.7bn to that price tag depending on its future financial performance.

    The deal will hand a £1bn windfall to the UK banks that own stakes in Visa Europe.

    Barclays is thought to be the biggest owner among the British banks, receiving a profit of around £400m on the sale of its stake.

    Lloyds Banking Group is set to gain £300m, Royal Bank of Scotland is in line for a profit of roughly £200m, and HSBC should earn an estimated £150m.

    Meanwhile payments group Worldpay, which is London-listed, has a €1.25bn stake.

    Approval from the European Commission, granted friday, means that sale is likely to be completed before the end of this month.

    Full Content: Telegraph

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