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Announced

Santander to acquire Elavon Mexico for $86m.

Financials

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Transaction Value£66m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Friendly

Payments / Commerce

Pending

merchant payment

Private

Acquisition

Single Bidder

Mexico

Majority

Synopsis

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Santander Group agreed to acquire Elavon Mexico, a merchant payment solutions company, from Elavon, a processor of credit card transactions, for $86m. The company will be 49% owned by Santander Mexico and 51% by Santander Merchant Platform Solutions, which belongs to Santander Group. “We have been pleased with the performance of our business in Mexico. This agreement is a mutually-beneficial opportunity that will allow Santander to operate the business holistically and allow Elavon to focus investments in higher growth opportunities in other markets in the United States, Canada and Europe. Recently, we announced the acquisition of Sage Pay in our European market, focused on growth in eCommerce product and distribution,” Jamie Walker, Elavon CEO.

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