We have advised National Bank of Greece on the signing of a definitive agreement to form a Joint Venture partnership with EVO Payments, Inc., a leading payment technology and services provider for its Merchant Acquiring Business.
NBG’s Merchant Acquiring Business will form the basis of a new company and EVO will acquire 51% of its share capital for a cash consideration of €158m, valuing NBG’s Merchant Acquiring Business at €310m.
In addition, there will be a long-term exclusive distribution agreement where NBG will offer to its merchants the market-leading, card acceptance solutions of NewCo, through the proprietary products and processing platforms of EVO. It is significant that all transaction documents are governed by Greek law.
Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and Associate Aris – Nikolaos Papadopoulos.