Bank BPH receives PLN 100 mln from Visa merger
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Bank BPH will receive €16.7 million (PLN 74.4 million) in cash and €5.7 million (PLN 25.4 million) in Visa Inc. shares in exchange for its stake in Visa Europe, the bank informed in a market filing.
The provisions of the transaction are expected to be completed in the second quarter of 2016.
In November last year, Visa Inc. and Visa Europe announced the final deal on the merging of the two organizations into one global company. The total cost of transaction amounts to $23.3 billion (PLN 91.2 billion).
Bank BPH was established in 1989 as the result of a spin-off from the structures of the National Bank of Poland. In 1995, Bank BPH went public and since then has been listed on the Warsaw Stock Exchange.
