We have advised National Bank of Greece in relation to the sale of 51% of the share capital of NBG Pay S.A. to EVO Payments Inc, for a cash consideration of €158m, valuing NBG’s Merchant Acquiring Business at €310m. NBG Pay S.A. forms the basis of the Joint Venture partnership between the National Bank of Greece and [EVO Payments, Inc.], a leading payment technology and services provider in relation to merchant acquiring and payments solutions with a presence in over 50 markets worldwide.
NBG previously contributed the payment acceptance business to NBG Pay through a spin-off. In addition, it is noted, a long-term exclusive commercial agreement was signed between NBG, NBG Pay and EVO.
Τhis partnership is expected to create significant value from synergies that will arise through the combination of NBG’s large customer base and EVO’s technological expertise in payment services.
It is significant that all transaction documents are governed by Greek law.
Our team was led by our Managing Partner, Catherine Karatzas, assisted by our Senior Counsel, Christos Paraskevopoulos and Associates, Iliana Ioannou and Aris – Nikolaos Papadopoulos, whereas our Partner, Aggeliki Tsatsi, advised on all employment law aspects of the transaction.
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