Mastercard completed the acquisition of a minority stake in MTN Group Fintech from MTN Group for $200m.

Mastercard, a multinational financial services corporation that provides payment processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks, completed the acquisition of a minority stake in MTN Group Fintech from MTN Group, a South African multinational mobile telecommunications company, operating in many African, European and Asian countries, for $200m. MTN and Mastercard also signed a memorandum of understanding which provides for a minority investment by Mastercard into Group Fintech based on a total enterprise valuation of about $5.2bn for the business on a cash and debt-free basis. Signing of the definitive investment agreements is expected to occur in the very near term as we approach finalisation of customary due diligence. The closing of the investment will be subject to customary closing conditions.