JPMorgan said to seal deal to buy 48.5% of Greece’s Viva Wallet
Viva Wallet serves small and medium-sized businesses in 24 countries
JPMorgan Chase & Co. has signed the final terms to acquire a 48.5% stake of Greece’s payment firm Viva Wallet, according to press reports in the country.
The U.S. bank will buy out all the minority holders for an amount that is expected to be above €820 million ($869 million), the news website kathimerini.gr reported, without saying how it got the information. JPMorgan announced the deal in January pending regulatory approvals, while the two sides were in still talks for the details of the agreement.
Athens-based Viva Wallet focuses on serving small and medium-sized businesses in 24 countries in Europe. Its services include bill payment, virtual debit card issuance and merchant cash advance.
JPMorgan Agrees to 49% Viva Wallet Stake in Fintech Deal
–By Sotiris Nikas (Bloomberg)
