Transaction expected to close before the end of June 2016
SAN FRANCISCO--(BUSINESS WIRE)--Jun. 3, 2016--
Visa Inc. (NYSE:V) today announced that the European Commission has
approved the proposed acquisition of Visa Europe Ltd. by Visa Inc. Visa
has now received all regulatory approvals required for the acquisition.
The transaction has already been cleared by both the Jersey and the
Turkish competition authorities. The transaction is expected to close in
Visa Inc.’s fiscal third quarter of 2016. Visa will announce the closing
once it has occurred.
About Visa Inc.
Visa Inc. (NYSE:V) is a global payments technology company that connects
consumers, businesses, financial institutions, and governments in more
than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world’s most advanced
processing networks — VisaNet — that is capable of handling more than
65,000 transaction messages a second, with fraud protection for
consumers and assured payment for merchants. Visa is not a bank and does
not issue cards, extend credit or set rates and fees for consumers.
Visa’s innovations, however, enable its financial institution customers
to offer consumers more choices: pay now with debit, pay ahead with
prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa,
This release contains forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally are identified by words such as
“will,” "is expected," and other similar expressions. Examples of
forward-looking statements include, but are not limited to, statements
Visa Inc. makes about the likelihood and timing of the closing of the
By their nature, forward-looking statements: (i) speak only as of the
date they are made; (ii) are not statements of historical fact or
guarantees of future performance; and (iii) are subject to risks,
uncertainties, assumptions or changes in circumstances that are
difficult to predict or quantify. Therefore, actual results could differ
materially and adversely from Visa Inc.’s forward-looking statements due
to a variety of factors, including the risk that the transaction may not
be consummated; matters arising in connection with the parties' efforts
to satisfy the closing conditions relating to the transaction; and
various other factors, including those contained in our Annual Report on
Form 10-K for the fiscal year ended September 30, 2015, our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2016, and Visa
Inc.’s other filings with the U.S. Securities and Exchange Commission.
You should not place undue reliance on such statements. Except as
required by law, Visa Inc. does not intend to update or revise any
forward-looking statements as a result of new information, future
developments or otherwise.
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Source: Visa Inc.
Kim, +1 212-521-3962
Victoria Hyde-Dunn, +1 650-432-7644