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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Australia And New Zealand Banking Group Limited | ASX:ANZ | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.44 | -1.47% | 29.55 | 29.43 | 29.60 | 30.00 | 29.43 | 29.99 | 5,370,705 | 07:50:00 |
From Jan 2020 to Jan 2025
By Mauro Orru
Worldline said Monday that it has signed an agreement with Australia & New Zealand Banking Group Ltd. to acquire a 51% stake in the bank's commercial-acquiring business as the company seeks to expand its merchant-services business outside of Europe.
The French fintech company said the stake acquisition is for a cash consideration of around 485 million Australian dollars ($365.4 million).
"Australia is a highly attractive strategic market as it is very close to Europe in terms of market structure, standards and technology, with a high level adoption of electronic payments. Backed by a solid macroeconomic environment and a strong long-term growth potential, the Australian market represents a rare opportunity to scale-up our platforms and roll-out our innovative solutions in very close partnership with such a leading institution as ANZ," said Worldline Chief Executive Gilles Grapinet.
The two companies are establishing a joint venture to operate and develop commercial-acquiring services in Australia, with Worldline retaining 51% and ANZ the remaining 49%.
The transaction is expected to close in the fourth quarter of 2021, Worldline said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
December 14, 2020 12:23 ET (17:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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