Visa has obtained required approvals from the European Commission (EC) for the proposed acquisition of Visa Europe.
All other permissions, including approval from Jersey and the Turkish competition authorities related to Visa Europe acquisition have already been secured by Visa. Now the transaction is expected to conclude before the end of June 2016.
In November 2015, Visa agreed to acquire Visa Europe in a transaction valued at approximately 21.2bn, as part of a strategy to create a single global company.
As a result of the integration, European clients will have greater access to Visa’s scale and resources and global clients will have a more seamless experience.
Furthermore, European clients will benefit from direct access to Visa’s investments in innovative technology and differentiated products and services.