Bank Millennium to earn nearly PLN 330 mln on Visa merger
14:15
Polish Bank Millennium, owned by Portuguese BCP, will receive €55.5 million (PLN 243.8 million) in cash and €19 million (PLN 83.5 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).
