Proposed acquisition of Visa Europe Ld by Visa Inc

RNS Number : 1768E

Barclays PLC

02 November 2015

 

2 November 2015

Barclays PLC

Proposed acquisition of Visa Europe Limited by Visa Inc.

Barclays notes today's announcement by Visa Inc. regarding its proposed acquisition of Visa Europe Limited, subject to regulatory approvals. Barclays Bank PLC is a shareholder and member of Visa Europe.

As set out in the announcement by Visa Inc., upfront consideration receivable on completion will comprise cash and preferred stock convertible into Visa Inc. class A common stock. Additional deferred cash consideration may also be payable following the fourth anniversary of closing subject to an earn-out mechanism. The preferred stock and earn-out elements of the consideration are contingent upon certain factors. We currently expect to report a post-tax profit of approximately £0.4bn on completion of the transaction (expected to be in 2016).

ENDS

For further information please contact:

Investor Relations Kathryn McLeland [phone]

Media Relations Archana Achuthan + 44 (0) 20 7116 4755

About Barclays

Barclays is an international financial services provider engaged in personal, corporate and investment banking, credit cards and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions - in the right way.

With 325 years of history and expertise in banking, Barclays operates in over 50 countries and employs over 130,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.home.barclays 

 

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