Evertec has inked a deal with to purchase 65% of the share capital of Processa S.A.S., a Colombian company that is based in Bogotá and engaged in the business of payment processing and supply of related services and equipment in Colombia.
The aggregate purchase price for the shares equals approximately COP 16,728 million, or approximately US$5.4 million at current exchange rates, and is subject to customary adjustments.
The transaction is subject to customary closing conditions, including receipt of US federal bank regulatory approval. The transaction is subject to customary termination provisions, including the right of either EVERTEC or the selling shareholders to terminate the transaction if it has not closed within three months after signing of the share purchase agreement. Receipt of US federal bank regulatory approval is dependent on factors outside the control of EVERTEC. There is no assurance that such approval will be obtained within three months after signing of the share purchase agreement or at all.
EVERTEC, is the largest merchant acquirer in the Caribbean and Central America – and one of the largest in Latin America – EVERTEC serves 19 countries in the region from its base in Puerto Rico. The Company manages a system of electronic payment networks that process more than 2.1 billion transactions annually, and offers a comprehensive suite of services for core bank processing, cash processing and technology outsourcing. In addition, EVERTEC owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. The Company serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions.
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