Visa Inc. and Visa Europe Ltd. announced in November 2015 an agreement for Visa Inc. to acquire Visa Europe. Nordea is a shareholder and member in Visa Europe and expects to recognise a gain following the closing of the transaction. The pre-tax gain for Nordea is expected to be within the range of EUR 90m to EUR 130m in cash, with an additional possible gain on preferred stock amounting to around 25% of the cash portion. In addition Nordea will receive proceeds stemming from divested operations, in which Nordea has claims that are not yet possible to quantify.
The consideration for the entire Visa Europe transaction includes EUR 16.5bn, whereof EUR 11.5bn in cash and EUR 5bn in preferred stock convertible into Visa Inc. class A common stock, and a possible additional earn-out of maximum EUR 4.7bn payable no earlier than on the fourth anniversary of the closing of the transaction.
The transaction is subject to regulatory approvals and is expected to be closed in the second quarter 2016.
For further information:
Rodney Alfven, Head of Investor Relations, +46 (0)72 235 05 15
Latest press releases
Soon, Nordea will be two years into its transformation process.
Casper von Koskull, President and Group CEO, will present the results. The presentation will be conducted in English and can be viewed live. You can also fin...
On 25 August 2016 Nordea and DNB entered into an agreement to combine their operations in Estonia, Latvia and Lithuania in order to create a leading independ...
Press release Annual general meeting 2018
Nordea’s Annual General Meeting 2017 decided to establish a nomination committee with the task of presenting to the Annual General Meeting 2018 proposals con...
The Nordea Bank AB (publ) Board of Directors initiates a re-domiciliation of the parent company to Finland
Press release Regulatory press release
At the Board meeting held on 6 September 2017, the Nordea Bank AB (publ) Board of Directors decided to initiate a re-domiciliation of the parent company from...