ING Bank Śląski to receive more than €40 mln from Visa Europe deal
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ING Bank Śląski, the Polish unit of Dutch ING, will receive €31 million (PLN 135.5 million) in cash and €11 million (PLN 48 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).
ING Bank Śląski is Poland's fifth-largest lender by assets and has been listed since 2004.
