CAIXY - CaixaBank divests merchant acquiring business for Euro260M and prepaid cards business for Euro17M

Spanish bank, CaixaBank, S.A. (CAIXY) will sell its merchant acquiring business to Comercia Global Payments EP, in which it has a 20% stake for €260M and prepaid cards operations to Global Payments MoneytoPay, in which it has a 49% stake for €17M.Both businesses had been directly undertaken by Spanish bank Bankia, which was taken over by Caixa in March.The transaction will provide Caixa a capital gain of €187M and add 11 bps to capital.The transaction is expected to close in the last quarter of this year.Source

For further details see:

CaixaBank divests merchant acquiring business for €260M and prepaid cards business for €17M